FOREXEL

GBPUSD - Not done correcting just yet...

FX:GBPUSD   British Pound/U.S. Dollar
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The Pound is not done correcting higher just yet. Its is very likely that it will pullback some after hitting the fib 0.5 level and pull back towards 1.56-1.5572 (Inner trendline and 200 MA) But after that it migth as well go for the golden fib 0.618 level (see chart)

Current price action is really important for coming months ahead.

The trend is still down but starting to flatten out so I expect this pair to range more in the near future.
What do you think now? Your 1.58674 level really has been useful for tops.
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So far so good but expect the pound to head more south before heading towards target
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