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HarryHadgeHutchison

GBPUSD Descending channel about to breakout??

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Paun British / Dolar A.S. (FX:GBPUSD)  
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FX:GBPUSD   Paun British / Dolar A.S.
Fibonacci Retracement Fibonacci LONG
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fibonacciretracement fibonacci long
Since the high made on the 7th of September, GBPUSD has been caught in a descending channel which has been re-tested and respected 3 times. When price reached 1.32500 it found a significant amount of support from the lower band of the channel, coincided with the 61.8% Fibonacci re-tracement level and hour 1 supply and demand zone. Now price is reaching the upper band it appears to be in a minor consolidation phase. If price manages to break the channel, extra positions will be added with the same target tp but tighter stop.
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