HelenP. I British Pound can make a movement down and bounce up

FX:GBPUSD   British Pound / U.S. Dollar
Hi folks today I'm prepared for you British Pound analytics. A few days ago price bounced from the 1.2685 support level, which is located inside the support zone, and made a strong impulse to the 1.2950 resistance level. Also then, the price broke the 1.2950 level too and rose higher even than the resistance zone, but soon British Pound started to decline. Price entered to downward channel, in which it declined below the 1.2950 resistance level, thereby breaking it again and falling to the support line of the channel. After this, the price tried to back up, but when it reached the resistance level, British Pound rebounded down and continue to decline to the 1.2685 support level. But a not long time ago it bounced from the support level and started to rise. At the moment, British Pound continues to trades in a downward channel and I expect that it can decline to a support level again and then rebounded. For this reason, I set up my target at the 1.2800 level, which coincides with the support line of the downward channel. If you like my analytics you may support me with your like/comment ❤️

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