GBPUSD testing major support, potential bounce!
Updated
is testing major support at 1.3930 (horizontal overlap support, 23.6% Fibonacci retracement ). A strong bounce could occur at this level, pushing price up to our next major resistance at 1.3996 (horizontal swing high resistance, 50%, 78.6% Fibonacci retracement , 100% Fibonacci extension ).
Stochastic (34,5,3) is also seeing a bounce off its ascending support line along with a bullish divergence , a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is also seeing a bounce off its ascending support line along with a bullish divergence , a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
Woohoo resistance target reached perfectly guys! Did any of you guys get in on this?
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