FX.co ★ GBP/USD

Hello traders, When analyzing the daily timeframe of GBP/USD, a very indicative picture emerges, showing that corrections prevail in the Forex market. We can see that the price initially dropped, then rose. I expect that it will fall again soon, and this time more significantly than the first wave. There is a target level at 1.2750, which the pair must reach to complete the descending correction. The price needs to first rise to finish what it started at the beginning of November. It is necessary to test the 61.8% resistance level of the four-hour Fibonacci retracement at 1.3450. Once the correction is completed, the pair may reverse. I believe this will be the primary scenario for GBP/USD. In the worst-case scenario, if the price rises above 61.8%, we will need to wait for it to go even higher.