Looking at the GBPUSD chart, price has established a swing low around $1.34344$ and pushed up toward 1.35088$. We are currently anticipating a corrective pullback into a high-confluence discount zone before expanding higher.
Key Technical Confluences
IFVG & Order Flow Area: The green shaded zone around 1.34517$ aligns with a key Inversion Fair Value Gap (IFVG) and historical order flow support.
Fibonacci Retracement: The corrective projection taps deep into the $0.75 - 0.90$ Fibonacci discount area ($1.34530 - 1.34418$), providing an institutional entry model.