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GBP / USD: The current correction provided good levels for the long by trend

GBP / USD D1 Our expectations:

Trend – long and short term correction. We see a signal for the end of the correction after the price has reached the support zone.

Indicators:
Test of 38.2% Fibonacci, the price holds above.
Test of 50SMA, price holds above, price above 200SMA. The MAs are stacked in a bullish formation.
DeMarker in neutral territory.

OJ: 1.29

Alternative scenarios: Breaking below 1.29 will most probably lead to a deeper correction.


 Trader Georgi Bozhidarov


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