Last Friday there was an attempt of broke important support at 1.4400. At the beginning it looked like success of the supply, but 60 pips below that level the supply wasn’t able to continue downward movement and demand’s strong reaction occurred. Finally 1.4400 level was defended and today upward movement has been continuing.
Currently GBPUSD reached resistance at the level of 1.4520. After its breaks next target for demand is located at 1.4600. It has to be noted that falls of GBPUSD which were since the beginning of May reached almost 61.8% of previous upward movement. It could means that this was only correction in uptrend and this correction has already finished.
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