Following the final last wave of the GBP/USD major pair that progressed upward, the lower limit reached the critical section of the chart. The probability of a change in the course of motion has increased sharply. Such a scenario is possible to happen given the corrective nature of the current upward wave and the completeness of its structure for today. On the other hand, there is no direct reversal that was seen, but this could occur in the next session.

In the near future, the price of the pair should reach the levels of the resistance zone. The chances for a turn to happen increase by the second half of the day. The next phase of decline would most likely occur at the end of the day or tomorrow.

Boundaries of resistance zones:

- 1.3260 / 90

Support zone boundaries:

- 1.3180 / 50

Explanations to the figures:

For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves.

The zones marked on the graphs indicate the probability of a change in the direction of motion has significantly increased as calculated in the areas. Arrows indicate the wave counting following the technique used by the author. A solid background of the arrows signifies the structure has been formed while the dotted one means the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.