Technical analysis of GBP/USD 10/25/2019
The GBP/USD currency pair found resistance at 1.3000 from which it started a downward correction. At the moment, the price is consolidating in the zone of 1.2800 (23.6% Fibo).
There is reason to believe that the downward correction will continue to the area of 1.2700, where the correction level of 38.2% of the Fibo grid coincides with the MA200 on the 1 Daily timeframe and further resumption of the upward movement above 1.3000.
Cancellation of the growth option after correction will be a strong drop below the 1.2500 area (61.8%).
Created by Joshua Hayn