The GBP/USD had a bearish ‘Regular Divergence Trade Setup’ these past few weeks in the Forex Market. Giving Forex traders between one hundred and two hundred and forty pips. Depending what your entry price was.
However, using the ‘Fibonacci Measuring Tool.’ We saw price bounce just above the 50.0% Fibonacci level. Then it crashed down to the 0.00%. We have strong major support at 1.1670. And resistance at 1.2630.