Hello Traders! Please support this idea with a LIKE if you find it useful. GBP/USD, 2H.
1. The bottom support line is set to 1.37746 line.
2. When the 948 rise point is replaced from the bottom support line on July 2, it is likely to rise to the top trend resistance line (Red trend line near 1.38690). The line 1.38690 is near the 0.786 line when Fibonacci returns from the high point on July 6 to the low point on July 7.
3. I use a Gann fan to replace the 1/1 line with the downward trend as the basis from June 23 to July 2, the 2/1 line looks similar to the top resistance Red-trend line.
4. The bottom support line is 1.37746, S1, 1.37313 lines, and if the S1 line is supported, it is likely to rise.
- This post does not provide financial advice. It is for educational purposes only.