$GBPUSD - A corrective bounce relief for British Sterling Pound
#GBPUSD Daily Timeframe As of September 29, 2023
The pair has been in a massive decline for 11 successive weeks since July 16, 2023 falling about a sharp 974 pips from its 1.30 to as low as 1.21 psychological levels.
In view of this, the pair may also potentially prepare for its relief corrective bounce which in our presented chart has a potential risk of -50 pips for a potential reward of +500 pips at the target level of 1.26/1.27 both in 0.50 and 0.382 fibonacci retracement levels.
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The pair has been in a massive decline for 11 successive weeks since July 16, 2023 falling about a sharp 974 pips from its 1.30 to as low as 1.21 psychological levels.
In view of this, the pair may also potentially prepare for its relief corrective bounce which in our presented chart has a potential risk of -50 pips for a potential reward of +500 pips at the target level of 1.26/1.27 both in 0.50 and 0.382 fibonacci retracement levels.
Stay updated by following!