GBPUSD Is Testing Its Support, Prepare For A Bounce
Buy above 1.4060. Stop loss at 1.3991. Take profit at 1.4233.
Reason for the trading strategy (technically):
GBPUSD is approaching testing its support area at 1.4060 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support, ascending support line) where we expect to see a bounce, pushing price up all the way to its resistance at 1.4233 (50% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.4147 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching support at 1.07% where we expect to see a corresponding bounce.
Reason for the trading strategy (technically):
GBPUSD is approaching testing its support area at 1.4060 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support, ascending support line) where we expect to see a bounce, pushing price up all the way to its resistance at 1.4233 (50% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.4147 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching support at 1.07% where we expect to see a corresponding bounce.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.