GBP/USD Rebounds from 0.786 Resistance Arc, Eyes 0.618 Support

The British Pound/US Dollar (GBP/USD) currency pair has rebounded from the 0.786 Resistance Arc, according to an analysis using Arc Cycle Analysis on a 2h chart. This rebound confirms a bearish reaction and opens up potential for continued movement toward the next Support Arc. The current Arc Cycle is still in play, with price acting as a resistance boundary.

The analysts' view is that if the bearish momentum continues, the GBP/USD could move towards the 0.618 Target Arc level. However, a sustained close above the 0.786 Resistance Arc would weaken the bearish scenario and potentially reopen the path toward the outer 1 (100%) Resistance Arc.