RLinda ! GBPUSD-> Retest of channel support. Rising?

GBPUSD shows us a classic buy signal. The price is testing the support of the ascending channel, what to do next).

RLinda ! GBPUSD-> A retest of the 0.618 Fibo level. What's next?

As we can see on the 4-hour chart, the price is forming an ascending price channel. Against the background of fundamental factors, by the end of the week the currency pair decreases to the support of the channel and tests important support at 1.2164. The price is consolidating at the level and it seems that it is not going to fall below the liquidity zone.

I expect a final price consolidation above the support with further price movement on the trend. Short-term target is resistance 1.2400, medium-term target is resistance and liquidity zone 1.26382.

Regards, R.Linda!

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RLinda

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