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