LegionQ8

British Pound can little correct and then continue to move up

Long
FX:GBPUSD   British Pound / U.S. Dollar
Hello traders, I want share with you my opinion about British Pound. Looking at the chart, we can see how the price fell to the seller zone, which coincided with the resistance level and at once bounced up, but soon GBP turned around and made impulse down lower 1.2580 level, breaking it. After this movement, the price started to rise inside the upward channel, where it broke the 1.2580 level again and later reached the channel's resistance line. Next, the price bounced down to the seller zone, after which it turned around and in a short time rose almost to the resistance line of the channel. But, when the price rose to 1.2710 points, GBP turned around and started to decline inside a downward wedge, where the price some time later exited from the upward channel. Also soon, the price broke the 1.2580 level and fell to the support line of the wedge, after which GBP rebounded and rose to the resistance line of wedge. Price little declined near this line and then bounced down to the support line, but a not long time ago British Pound rebounded from the support line and exited from a wedge pattern. Now, I think that price can make a little correction, after which GBP will continue to move up to the 1.2580 resistance level, which is my 1st TP. Please share this idea with your friends and click Boost 🚀

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