GBPUSD Fibo Retracement? 15.03.2023

GBPUSD Fibo Retracement? 15.03.2023 by BDSwiss_Academy on

GBPUSD has been rising since 09.03.2023 having a rather volatile path.

The pair entered in to a consolidation phase indicating that this medium -term shock has ended.
Retracement is a possibility but we have to wait for the support break of the 1.21400 for confirmation.

Breaking that support would drive the pair further down until 1.20600 at least.

Alternative scenario: the market breaks 1.22 resistance level showing signs of more shock boost
and moves until 1.22600 level.

Marios Kyriakou

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