GBPUSD — Long from Deep Retracement (1H)GBP/USDOANDA:GBPUSDBrocetaPrice has pulled back into the 0.886 Fib of the last impulsive leg up (1.34756 → 1.35351), holding the higher-low structure formed on April 22. Looking for entries in the 1.34824–1.34848 zone, where the 0.886 Fib aligns with prior demand at the lower edge of the consolidation. Trade Parameters Entry: 1.34848 Stop loss: 1.34756 (below 1.0 Fib / structural low) Target 1: 1.34984 (0.618 — partial close) Target 2: 1.35124 (0.382) Target 3: 1.35199 (0.236 — final exit) R:R to TP3: ~1:3.8 Logic Bull leg from the 1.34756 low remains valid as long as we don't see a 1H close beneath that level. Deep retracement into 0.886 tightens the risk (~9 pips to invalidation), giving the setup favorable math. The 1.35199 zone is both prior rejection and a logical first liquidity grab before any continuation toward 1.35351. What invalidates the idea A 1H close below 1.34756 — setup is void, exit without waiting for the stop. Note UK news events are scheduled today and tomorrow (marked on the chart). Volatility may move price before the setup plays out — if that's outside your risk tolerance, size down or wait for the release to clear. Educational content, not financial advice. Trade only what you can afford to lose.