InvestMate|GBP/USD Don't count on continuation of increases💷💵

💷💵GBP/USD Don't count on continuation of increases

💷💵GBP/USD Finally reached an important price level marked by a resistance zone. As we can see, the price has repeatedly found it difficult to continue upwards at these points in the past.

💷💵Will this be the case this time too?

💷💵The support zone to which I expect the price to descend is around the cluster of three fibo levels. The first is 0.382 of the entire current upward impulse. The second is the outer level of 1.272 of the entire downward wave from the 1992 peak to the 2001 bottom. The third is the level of 0.886 of the entire upward wave from the 1985 bottom to the 1992 peak.

💷💵This is the strongest closest support zone, if we were to fall on it I would expect a strong price reaction.

💷💵The scenario I am playing out is the start of a decline with a target landing on the support zone within the next few weeks. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

💷💵 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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