On the GBP/USD daily chart, there are prerequisites for breaking the “bearish” trend. Quotes lie in the vicinity of the upper boundary of the descending trade channel.
A successful attack of the diagonal resistance line and the 23.6% Fibonacci retracement level of the last bearish wave will activate a “Shark” reversal pattern. Its 88.6% target corresponds to the 1,325 mark.
On the GBP/USD hourly chart, the breakout of the 1,304 resistance level will be a good signal of the “bull” attack. If the pound manages to consolidate above 1.3116, the quotes might continue to rise towards the 1,325 level.
Recommendation: BUY 1,304 SL 1,2985 TP1 1,3115 TP2 1,318 TP3 1,325
Origin: FX BAZOOKA
