GBPUSD – as predicted in previous analysis, correction of the last growth impulse, which had shape of a downward channel (some would call it a “flag”), finished exactly at 50% of this move at 1.2810. In addition there was confluence with significant support established by the maxima from June. After rebounding from the mentioned support, the anticipated gains began and price broke the upper line of the downward channel in which the correction took place. After breakout price re-tested the broken line and we are slowly returning to growth. The nearest resistance is expected at level of the last high – 1.3020.
