FX.co ★ eichmann.robert | Analisa Pasar GBPUSD

Hello traders, since it's the weekend today, it's a good time to analyze the monthly timeframe of GBP/USD. I only consider this major period for this pair. I have a Fibonacci retracement drawn here for a significant decline. The price rose last year to the 50% resistance at 1.3770 and after a slight test, it reversed and fell into a correction. It dropped, but then bounced back. Recently, it tested the resistance again. The price once again failed to break through it. I have a big idea that GBP/USD could drop by 1500 points from the 50% resistance. The target for the decline is the 23.6% support level of the retracement at the round level of 1.2000. It's hard to say if the price can drop that much. It can do it, but the question is, of course, about the timing, how long this will all continue.