Technical Analysis – GBPUSD deflected by 23.6% Fibonacci for a continued bear move

GBPUSD sellers pushed the price below the 1.2288 barrier this week, which is the 23.6% Fibonacci retracement level of the down leg from 1.3176 to 1.2014. The MACD has further distanced itself above its red trigger line in the negative territory, but seems to be starting to flatten, so some caution cannot be ruled out […]