$GBPUSD Potential Retracement Following Symmetrical AB=CDPEPPERSTONE:USDCAD
The pound has just completed the AB=CD pattern on the 4-hour chart, precisely at 1.2671, a level I highlighted back on February 13. With this textbook pattern now fulfilled, a retracement could be in play, potentially sending the pair lower toward key Fibonacci retracement zones below 1.2541.
This move also aligns with a possible retest of the broken daily fractal resistance at 1.2550 , a level that played a key role earlier this week. If sellers step in with conviction, the cable could face a broader pullback, but sustained downside pressure will depend on the market’s reaction at these critical support levels.
📉 Key Technical Takeaways:
✅ AB=CD pattern completed at 1.2671, signaling potential exhaustion of bullish momentum.
🔄 Possible retracement targeting Fibonacci levels below 1.2541.
⚠️ 1.2550 daily fractal resistance, which was broken earlier this week, could be retested as new support or fail to hold.
Will GBP/USD follow through with a correction, or will buyers defend these zones? Let’s see how this plays out! Drop your thoughts below. 👇
Happy Trading,
André Cardoso
Risk Warning: Trading financial assets carries a high level of risk and may result in the loss of all your capital. Make sure to fully understand the risks involved before you start trading and carefully consider your investment objectives, level of experience, and risk tolerance. The data and information provided in this content do not constitute financial or investment advice and should not be considered as such. Only invest what you can afford to lose, and be aware of the risks associated with trading financial assets.
