GBPUSD - Technical Analysis: Friday, 10/03/2017 06:39 GMT

The GBPUSD pair fluctuates around 76.4% Fibonacci correction level that represents important support at 1.2156, waiting to break this level to confirm the continuation of the decline and head towards the recently recorded low at 1.1986.

Overall, the expectations of the bearish trend still dominant, supported by the exponential moving average 100 that forms negative pressure on the price, while surpassing 1.2261 will provide initial signals of the price attempt to head towards stopping the current bearish wave and turn back to the main bullish trend again.