GBPUSD: Fibonacci Retracement

GBPUSD, H4

In the H4 time frame, the GBPUSD slightly corrected after a robust rise and faces the 1.3180 support, aligned with the 138.2 Fibonacci ratio.

The Momentum oscillator crosses the 100-line below, giving a potential bearish sentiment.

The UsDollar rises, putting an additional pressure on GBPUSD.

• If the price fails to break below the 1.3180 support, it will open the way for a rise to 1.3280 level;
• However, breaching below the 138.2 Fibonacci, will drop the asset back to 1.3040 support;