GBP/USD: Sell
– The pair has reversed from a key resistance zone.
– Downside target set at 1.3435.
GBP/USD has recently turned lower after hitting a resistance area defined by the 1.3650 level (which has capped advances since February) and the upper line of the daily Bollinger Band.
This pullback marks the start of a minor ABC correction labeled ii, which is part of the larger wave 3 that began at the end of June.
With the US dollar showing strong bullish momentum today, the pair is expected to decline toward the 1.3435 support level, which aligns with the projected end of the corrective wave ii.
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