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The British Pound, despite the strong upward momentum, makes significant corrections that give many investors a headache. At the moment it can be noticed that despite the upward correction, the price stopped for a moment and then began to slowly rebound from the locally designated fibo 61.8. The level is interesting because it coincides with the resistance which peaked on September 1. Breaking this level will give us an open path to increases, so far a downward trend has formed locally since yesterday, and started with a rebound from the resistance just before Christmas.


Breaking the indicated level as described above made it possible to reconsider long positions. The designated support, despite the breakthrough, kept the rate, which was only a confirmation of a possible move up. In the image below you can see that the price has responded nicely and is going up with slight corrections.

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