GBPUSD Wave Analysis – 18 March 2025

- GBPUSD reversed from support zone
- Likely to rise to resistance level 1.3050

GBPUSD currency pair recently reversed from the support zone between the support level 1.2900 and the upper trendline of the daily up channel from January.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing - which continued the active impulse wave (C).

Given the strongly bullish sterling sentiment, GBPUSD currency pair can be expected to rise to the next resistance level 1.3050 (the former monthly high from November).