GBPUSD Wave Analysis 22 November 2024

- GBPUSD broke support zone
- Likely to fall to support level 1.2465

GBPUSD currency pair recently broke the support zone located between the support level 1.2620 (former monthly low from June) and the support trendline of the daily down channel from September.

The breakout of this support zone accelerated the active minor impulse wave 3 of the higher impulse wave (C) from the start of November.

Given the strongly bullish US dollar sentiment seen today, GBPUSD currency pair can be expected to fall further to the next support level 1.2465, former monthly low from May and the target for the completion of the active impulse 3.