Meta description: The GBP/USD broke the support trend line but price action remains choppy and indecisive and price could build a bigger bullish correction towards the next 38.2% Fibonacci retracement level.
The GBP/USD broke the support trend line but price action remains choppy and indecisive and price could build a bigger bullish correction towards the next 38.2% Fibonacci retracement level.
The GBP/USDbullish break above the resistance trend line (orange) could see price move towards the 38.2% Fib at 136.25. A bearish breakout is needed before price could challenge the previous bottom.
The GBP/USD seems to be building multiple ABC patterns, which is making an expanded (bullish) correction more likely than a downtrend continuation.
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