FX.co - GBP/USD bounced off support, potential for further rise!

2019-05-08T02:12:36

Long-term review

Price bounced off our first support where we might see a further rise in price.

Entry : 1.3047

Why it's good : horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 1.3017

Why it's good : 50% Fibonacci retracement

Take Profit : 1.3125Why it's good : horizontal swing high resistance, 61.8% Fibonacci retracement

GBP/USD bounced off support, potential for further rise!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ GBP/USD bounced off support, potential for further rise!