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British Pound / U.S. Dollar
Long

GBPUSD bounced nicely off support, potential to rise further

By ICmarkets
Broker
GBPUSD bounced nicely off its support at 1.3930 (100% Fibonacci extension) where it could rise further if it breaks out of its immediate resistance at 1.3992 (horizontal overlap resistance, descending channel). Once this level is broke, a bullish acceleration could be triggered, causing price to rise to its resistance at 1.4176 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). We do need to be cautious of the intermediate resistance at 1.4090 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.6%.
Bitcoin (Cryptocurrency)bitcoinforecastChart PatternsForexforexsignalsGBPGBPUSDgbpusdshortHarmonic PatternsTrend AnalysisUSD
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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