easyMarkets
Long

GBPUSD approaching support, potential bounce!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is approaching our first support at 1.2797 (horizontal overlap support, 61.8% Fibonacci extension , 76.4%, 50% Fibonacci retracement , Elliot wave structure) where a strong bounce might occur pushing price up to our major resistance at 1.2959 (horizontal swing high resistance, 38.2% Fibonacci retracement ).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
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Nice, I have similar view med. term, GBPUSD H1 Bearish Running Flat. Checkout the idea detail's and updates for my complete picture.
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