GBP/USD Price Analysis: Bullish M-formation argues test of 1.3610

• GBP/USD pressured by US dollar strength mid-week into demand area. 
• GBP/USD bulls look for bullish structure to target a reversion. 

GBP/USD bulls moving in as the US dollar's bid slows down into the end of the North American session. The price is now testing a demand area and the following illustrates prospects of an upside correction opportunity.

GBP/USD daily M-formaiton 

As illustrated above, the daily chart has formed an overextended M-formation and the bulls could be encouraged to restest the confluence of the 61.85 Fibonacci level and the 22 Sep lows. 

This can be targeted from a lower time frame and executed when a bullish structure is forming. 

Further out, it is noted that the price is meeting a demand area, so there is a reasonable probability that the price will start to correct and form a bullish structure in a period of accumulation: