FX.co ★ dusty24 | GBP/USD

Good evening, colleagues. Let's analyze the 1-hour chart of the GBPUSD currency pair. Currently, we observe price movement within a descending context. Liquidity was taken at the top at the price level of 1.3110, which now acts as a protected selling zone. Below, we have a series of 3 consecutive bearish FVG formations on the 1-hour chart. This forms a resistance zone that could reverse the price back down, completing the current upward correction. However, liquidity was also taken below at the price level of 1.2973. Therefore, any further decline will encounter support at this fractal. The only lower target we have is the 1-hour fractal at 1.2953, which represents an unprotected liquidity zone. At this point, we could consider the possibility of buying.