The Pound sterling, which fell to its low on March 15, is nearly completing the 61.8% Fibonacci retracement, and is very close to the first support 1.5657.
Weekly in view of that the pound sterling is at a key level of change trend, we recommend buying the weekly support line or fibonacci 61.8%, with targets up to 1.6050, we must add, that the trend of GBP / USD bearish long-term continuous, we can interpret the rebound as a pullback to the uptrend line was broken. as we see in the graph.
The Momentum indicator is very oversold and is likely to bounce upwardly within the next few hours.
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