Cable is at the point of a long-term reversal

British Pound/U.S. Dollar FX:GBPUSD
WXYXXZ



This is a quite credible structure, meaning 1,20 may become a foundation for a solid long-term growth.

Lyrics apart, this may be the end of the impulse and a reversal point.

As the alternative, please bear in mind, that price has a potential to drop further 500 points lower within a base channel on a weekly chart.
Anyway, look at the price action that is to follow the test of 1,2 area.

Good luck!

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