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MEX_Exchange

GBPUSD approaching major support, prepare to buy

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
MEX_Exchange  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade GBP USD Forex forexsignals
10
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trendanalysis harmonicpatterns chartpattern gbpusd gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade gbp usd forex forexsignals
Buy above 1.2817. Stop loss at 1.2741. Take profit at 1.3029.
Reason for the trading strategy (technically):
Price is approaching major support at 1.2817 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we expect to see a nice bounce above this level to push price towards 1.3029 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing support above 4.8% where we expect a bounce from.
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