FX.co ★ GBP/USD

Hello traders, GBP/USD rose to the hourly correction level yesterday. It was slightly broken through, and then the pair turned around and fell. The drop was impulsive and brought the pair noticeably closer to the minimum. Questions arise again about its breakout. The 38.2% Fibonacci retracement level, located at the price of 1.3200, acts as the minimum support. I had a forecast for its testing, followed by a reversal and an increase to 14.6%. Of course, this level would be reached under the best circumstances for buyers. However, it was not chosen randomly; it represents the boundary of potential correction if GBP/USD starts to form it. Currently, it is not very clear whether the pair is going to retest the minimum or move upwards.