GBPUSD H4 Potential for Bullish Rise | 27th April 2022
Price is moving towards the descending trendline. We have a bullish bias that price will rise from buy entry level of 1.25696 which lines up with -61.8% fibonacci expansion towards the take profit of 1.27677 which lines up with 61.8% fibonacci projection and 38.2% fibonacci retracement. Alternatively, price might break the key support level and trigger a dip towards the stop loss level of 1.24566 which is a horizontal pullback support and also 15th June 2020 low.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.