FX:GBPUSD   British Pound/U.S. Dollar
We have just seen a major bullish engulfing candle smashing the previous 3 days. This also comes as the price bounced off the halfway point of the fib. We also have a bullish break of the major trend line of the 4hr chart. So my overall price target is the previous high of 1.582 and might look to take some profits at 1.5692. My stop is placed at 1.51344.
Hi David, did you have the area as support before the bounce? If so how did you get it
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david.cummins.581 SteveTobin
2 years ago
hey mate, i always like to use the fib levels 0.5 and 0.61 and supp. The hammer that dips below the 0.5 level also makes the support a little more obvious to me.
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