tigo2020

GBPUSD to retrace before a push back up again

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
140 0 0
1. GBPUSD             faced resistance at the 38.2% Fibonacci Retracement Level from the most recent down move (@ 1.5551 Level).

2. I still believe GBPUSD             will retrace to the 61.8% Fibonacci Level @ 1.5922 for a re-test of the long term broken down trend line (in red).

3. Question is: Will it go there immediately or will we see a retracement before a push back up ? This is why we shift to the Daily & H4 Charts

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