GBPUSD Near Fibonacci Golden Level, Correction Anticipated
FOREX
Chartist Trader
7/15/20241 min read
The GBPUSD price is approaching the Fibonacci 161.8 golden level and nearing the upper boundary of the uptrend channel, suggesting a potential correction. The solid uptrend remains confirmed as the price has touched the uptrend line twice, serving as the lower boundary of the channel. According to trendline theory, another touch on this trendline could signal a significant upward movement.
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