GBPUSD has pierced through the bearish
channel we pointed out yesterday and if this scenario is to come
to fruition the pair is starting a new swing movement, first potential
target is the 1.8000 area where we have the 38.2 Fibonacci Retracement
of the last leg down and a previously tested support and resistance
level. Opening a new position will depend on how aggressive each trader
is, looking now on the smaller time frames to spot for price action
patterns that can signal a bullish movement or to wait until this swing
is fully developed and enter on the retracement.
