Tickmill
Long

GBPUSD lining up a possible bounce!

FX:GBPUSD   British Pound / U.S. Dollar
Price is consolidating within a triangle and is lining up for a possible bounce. We’re seeing major support above 1.3300 to 1.3311 (50% Fibonacci retracement , 76.4% Fibonacci retracement , horizontal overlap support) and a strong bounce could occur at this level to push price up to at least 1.3457 resistance ( Fibonacci retracement , Fibonacci extension , horizontal swing high resistance). Our next major level of support is at 1.3210 ( Fibonacci retracement , horizontal swing low support).

Stochastic (34,3,1) is seeing ascending support possibly signaling a bounce is impending.

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This analysis is provided as general market commentary and does not constitute investment advice.

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