logo

FX.co ★ GBPUSD is facing bullish pressure, potential for further upside

GBPUSD is facing bullish pressure, potential for further upside

GBPUSD is facing bullish pressure, potential for further upside

Prices are approaching ascending trendline support in line with horizontal pullback support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. If prices push down further, prices might take support on horizontal swing low support in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.

Trading Recommendation

Entry: 1.39004

Reason for Entry:

Horizontal pullback support, 78.6% Fibonacci extension, 61.8% Fibonacci retracement

Take Profit: 1.40088

Reason for Take Profit:

Horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement

Stop Loss: 1.38602

Reason for Stop Loss:

Horizontal swing low support, 61.8% Fibonacci retracement, 127.2% Fibonacci extension

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account