H4 CHART TIMEFRAME Above EMA 50 - Fibonacci 78.6% of XA - safe Bull Zone. The zones and the levels will be our guidelines. Detailed analysis and forecast will be published on our website. Have a nice trading week.
Comment
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GBPUSD tested Fibonacci 61.8% of XA 1.40700 and completed the correction.
1.42450 is the important resistance. Breakout of this resistance will take the price 1.44000 in the midterm.
Intraday Key Levels:
On the upside: 1.42200 1.42450 1.42800
On the downside: 1.41450 1.41000 1.40380
H4 closing below 1.41000 may change the short term trend. Pullback levels to use as buying opportunities are 1.41500 and 1.41090.
We have two bearish harmonic patterns above 1.42500 and both would be completed around 1.44100 – 1.44200.
We will look for a short opportunity at 1.44100 for a correction. We keep our bullish positions.