FX.co ★ GBPUSD holding above ascending trendline support! Bounce incoming!

GBPUSD holding above ascending trendline support. With price holding above moving average support, a further push up above our 1st support at 1.38452 towards graphical swing high and 1st resistance at 1.38911 could be possible.

Trading Recommendation

Entry: 1.38452

Reason for Entry:

61.8% Fibonacci retracement, ascending trendline support, moving average support

Take Profit: 1.38911

Reason for Take Profit:

Graphical swing high resistance

Stop Loss: 1.38181

Reason for Stop Loss:

Graphical swing low