Yesterday's trades saw a strong rise for the GBP/USD, the pair was able to break the
resistance level 1.6205 and also breaking the bearish channel's top border to begin the pair
forming a corrective bullish direction for the medium and the short-terms, whereas it's
expected that the bullish move will be continued till reaching the level 1.6483 which
represents the targeted price to get out of this bearish channel which also represents 61.8%
Fibonacci retracement correction level for the bearish direction (from 1.6745 to 1.6058),
reaching this level; the level 1.6320 must be broken which represents 38.2% Fibonacci
retracement correction level for the same previous mentioned bearish direction.
This scenario depends on the stability of the support level 1.6220.
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