GBPUSD Potential long opportunity
Current retracement on the weekly timeframe, looking for a potential long opportunity around 1.35650-1.37000 which is in confluence with the Fibonacci levels of 0.50-0.618 which coincides with levels of significance around 1.36500 where we could identify entry opportunites within this zone.
RSI was overbought on the daily so a deep retracement was expected before a continuation of the bullish trend.
SL: 1.34450 ( Below swing point and Fibonacci zone)
TP: 1.45500 ( -0.27 Fibonacci level)
Potential R:R =4.44
RSI was overbought on the daily so a deep retracement was expected before a continuation of the bullish trend.
SL: 1.34450 ( Below swing point and Fibonacci zone)
TP: 1.45500 ( -0.27 Fibonacci level)
Potential R:R =4.44
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