FX.co ★ GBP/USD
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GBP/USD
What can be seen on the daily timeframe of GBP/USD? I observe that the price has risen to the 61.8% Fibonacci retracement resistance level at 1.3600. This is very good because the upward correction can be considered completed. The price has risen to this level and stopped. I would like to see further growth to the next level, slightly higher. This is the 14.6% retracement. Since it is close to the 61.8%, these two levels form a cluster of resistance, meaning an area where there is a high probability for the pair to reverse and fall. However, there is already a pullback now, and it is quite good. It feels like GBP/USD is planning to develop it further. This will move the pair away from the 14.6%. In general, this moment is questionable. I still believe that buyers may target the 14.6%.