FULL Overview on GBPUSD and what to EXPECT!!!!

Lets start off by looking at the past movement of GBPUSD. We can see that GBPUSD managed to test the 61.8 fibonacci level twice previously, eventually rejected off a strong resistance level @1.2615. Lets Focus at the first fibonacci retracement lines (Black).Currently, we can also see GBPUSD is gaining minimal strength retesting 50.0 fibonacci level and a resistance level @1.2290. Definitely, we can see consolidation around the 50.0 fibonacci level and the resistance level, which I expect to see a rejection in price level heading to the downside. First crucial level we want to see GBPUSD will be the 38.2 fibonacci level (1.2170 price level) which we would like to see a clean breakthrough before heading towards 23.6 fibonacci level. If we look at the second fibonacci retracment line (Purple), we can see that 1.2170 price level is at the 61.8 fibonacci level which is also a crucial level for us to see a breakthrough. Lets say if we managed to breakthrough the level, we will travel down to +- 1.1870 price level (Green Zone). After which, the green zone will be a strong buy zone for me to buy GBPUSD. However, if we see continuous strong BEARISH movement, we should adapt and be prepared to see it testing the low forming a nice "W" formation. For that, I will update again when we see more movements so do stay tune for my updates!!! As of now, I will trade the BEARISH movement.

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