GBP/USD Strong Zone is Supporting the Bulls

The GBP/USD has made a strong retracement and now the price is exactly at the 61.8 fib retracement of the last swing.

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W H3/D H3 rejection is expected as it constitutes the POC zone 1.3850-70 We should see a move towards the W H4 – 1.3915. A successful retest of 1.3938 is also possible. In that case look for a possible breakout or a bounce. If it happens 1.3975 is next. Bulls should be safe as long as the price is above 1.3820.

[fx-image src=/2021/05/word-image-55.png data-zoom-target=https://responsive.fxempire.com/cdn/n/n/_fxempire_/2021/05/word-image-55.png originalWidth=1629 ratio=2.33]

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Cheers and safe trading,

Nenad

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