GBPUSD has started recovery from support area 1.5300.
First barrier for cable is located at 1.5352, 23,6% Fibo correction to recent decline 1.5507-1.5304 and projection of green descending line from (1) wave range.
Following resistance is situated at 1.5385 line, static level confirmed with 38.2% Fibo.
Dynamic resistance 1.5395 is projected through local lows of 19-21 October.
Final correction point of correction might be 1.5405 - 50% Fibo coefficient and ascending line from 30 September (as shown on daily chart).
Further GBPUSD decline targeting 1.5260 remains main scenario until cable holds below 1.5420, resistance trend line from 25 August.
First barrier for cable is located at 1.5352, 23,6% Fibo correction to recent decline 1.5507-1.5304 and projection of green descending line from (1) wave range.
Following resistance is situated at 1.5385 line, static level confirmed with 38.2% Fibo.
Dynamic resistance 1.5395 is projected through local lows of 19-21 October.
Final correction point of correction might be 1.5405 - 50% Fibo coefficient and ascending line from 30 September (as shown on daily chart).
Further GBPUSD decline targeting 1.5260 remains main scenario until cable holds below 1.5420, resistance trend line from 25 August.
