Hello everyone, yesterday we initiated a buy order, and fortunately, the price moved exactly as we anticipated. However, the uptrend is not yet fully assured as the price is still adjusting and retracing to the 0.5 - 0.618 Fibonacci zone, part of its correction phase.
Although the overall trend has yet to be clearly defined and the persistent sideways movement is not over, if GBPUSD can close above the 0.5 Fibonacci level, we will consider placing additional buy positions. Conversely, this level is also closely monitored by the bears, ready to seize the opportunity to press the pair down further.
Although the overall trend has yet to be clearly defined and the persistent sideways movement is not over, if GBPUSD can close above the 0.5 Fibonacci level, we will consider placing additional buy positions. Conversely, this level is also closely monitored by the bears, ready to seize the opportunity to press the pair down further.
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