GBPUSD Wave Analysis

• GBPUSD reversed from round support level 1.3000
• Likely to rise to resistance level 1.3160

GBPUSD currency pair today reversed up with the daily Hammer from the round support level 1.3000 (which stopped the previous sharp impulse wave 1 in the middle of March).

The support zone near the support level 1.3000 is strengthened by the lower daily Bollinger Band.

Given the bullish divergence on the daily Stochastic – GBPUSD currency pair can be expected to rise further toward the next resistance level 1.3160.