Yesterday, the British pound against the US dollar failed to breach the 1.2708 level, and the price may return to the corrective downtrend !!
In the event that the price is unable to breach the 1.2708 level, which represents 61.8 Fibonacci levels, then the price is expected to go to the downside and the price will continue to decline until it targets the level of 1.2461 as the next target, which represents the 50 level of Fibonacci levels, and will The price is trying to breach it, and if the price manages to break the 1.2461 level, the price will continue to decline targeting the level of 1.2215 as a main target, which represents the 38.2 level of the Fibonacci levels, and if the price cannot break through the 1.2461 level, the price will go to the upside corrective direction,
And if the price manages to break the 1.2708 level, then the price will go to the upside targeting 1.3190 as the next target, and the price will try to break it, and if the price manages to break through 1.3190 the price will continue to rise targeting 1.3506 as a main target, If the price cannot breach 1.3190, the price will return to move towards the corrective downtrend ,,
Expected price movement until end of day: bearish;
Unless the price breaks through the 1.2708 level !!
If the price is unable to breach the 1.2708 level, the price will go to the downside, targeting 1.2461 as the next target.
If the price manages to breach the 1.2708 level, the price will go upward targeting 1.3190