GBP/USD 61.8% Fib retracement
There is a pull back that is resisting at the 61.8% Fibonacci retracement, which is proving to be a strong line of resistance. The lows of this new wave are testing around the 1.2300 are which is where I believe this should fall down to as it continues in its consolidation.
Note
This simple but effective setup worked to perfection with the price coming right past my TP.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.