Topside resistance stalled the rally today.
As per the earlier post, the GBPUSD raced higher, but into the next targets defined by swing levels and the 38.2% retracement area around the 1.3300 level.
Also, in the post, a move belw as lower channel trend line on the 5-minute (and a retracement level of the last trend move higher), would
What now?
We should be getting close to a stall of the corrective move lower.
Looking at the hourly chart below, the price is moving toward the 38.2% of the move up from the low yesterday at the 1.32205 level. The underside of the broken trend line comes in at 1,3213. The high from yesterday was at 1.31143. That area should attract buyers with more selling on a break below.
