RLinda ! GBPUSD-> A retest of the 0.618 Fibo level. What's next?

6 de dez. de 2022

GBPUSD continues to recover within the ascending range. The price reached the level of 1.23400 and started to form a correction, having made a false break of the resistance level 1.2293

The pound descends to the support area of the uptrend channel, to the level of 1.21600. The main potential for the rebound lies at the key Fibo level of 0.618, which is located at 1.21746.
The prospect is buying, since we have an uptrend.

But, provided that the price breaks the level of 1.21600, selling is allowed. It is possible to open a deal only after the price breaks the support and consolidates under the level.

Targets for pullback - resistance at 1.22932 and 1.24059
Targets for fall - 1.19334

Regards R.Linda!