GBP/USD recently reached the buy target 1.6900 that was set in our earlier technical analysis report for this currency pair. The price has been rising strongly in the last few trading weeks – following the earlier breakout of the daily Triangle from February (as you can see from the daily GBP/USD chart below).
The breakout of this Triangle accelerated the currently active 3rd minor upward impulse wave 3 from March. The pair is currently trading close to the resistance level 1.6900. If GBP/USD breaks above 1.6900 – expect it to rise to the next buy target 1.7000.
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