FX.co ★ GBP/USD

An interesting question is whether there was a test of the 14.6% Fibonacci retracement resistance on the weekly timeframe of GBP/USD. The level is near the round price of 1.3600. There was a test of the daily resistance, so the pair stopped a few dozen points before reaching 14.6% as buyers were halted. If GBP/USD still manages to rise to 14.6%, then on the chart, it can be considered that an internal pattern has formed for further development of the descending correction to the target level of 61.8% at a rate of 1.2770. The level should be additionally attractive because the 200-day moving average is there, creating a support area. In general, it is necessary to understand whether GBP/USD is going to rise further to test 14.6% or if nothing will be done in this regard anymore.