The British Pound has been on a bearish trend since 5.37. The pound has hit a fibonacci retracement of 38.2% from 5.14, indicating a strong bearish trend. If the ABCD pattern completes, the price target for GBPMYR is 4.90, also hitting a major support level.
Chart PatternsFibonacciForexGBPMYRmalaysiaTechnical AnalysisTrend Analysis

Disclaimer