GBPUSD D1

The British pound, like many other leading currencies, in relation to the American dollar this year made the maximum collapse. But the bear market is already over. At the end of September, we saw a market reversal and for more than a month we have been witnessing an active growth of the British. Which amounted to 20% of the bottom point. Now the price has reached a strong resistance level and is likely to go for a correction. But the active phase of growth will still continue. This will also be affected by lower inflation rates in the US. On the chart, we can see a figure that forms a cup. Its extreme points are just at the resistance level, from where the correction will begin. the indicators on the daily timeframe also show that the price is overbought, which gives a signal of a downtrend.