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