FX.co - GBP/USD approaching support, potential bounce!

2019-07-16T04:16:03

Long-term review

GBPUSD is approaching our first support where we expect a bounce above this level.

Entry: 1.2510

Why it's good : horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.2470

Why it's good : 76.4% Fibonacci retracement, Horizontal overlap support

Take Profit : 1.2583

Why it's good: 38.2% Fibonacci retracement, Horizontal overlap resistance, 61.8%, 100% Fibonacci extension

GBP/USD approaching support, potential bounce!

*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 approaching support, potential bounce!