FX.co ★ GBP/USD

Hello traders, yesterday both the pound and the dollar released data above expectations. The pound unexpectedly showed strong GDP figures, while the dollar had positive unemployment claims. The pair reacted more to the US dollar statistics. The intraday decline confirmed that the current trend for the pair is a corrective pullback after breaking the trend line at the 1.3480 level. Yesterday, I set targets at the 38% Fibonacci retracement level of 1.3360, and there is still room for further downside. Now the descending triangle structure is clearer, and I see the third wave at the 50% Fibonacci level - this is the new target for today.