Acceleration toward major support

FX_IDC:USDGBP   U.S. Dollar / Pound Sterling
Brexit is causing volatile market conditions with deep, quick moves. USD/GBP failed to reach the previous swing high and now is showing acceleration toward the major support around 0.75. There is confluence here with multiple Fibonacci levels and convergence of a long-term up trend support meeting short-term down trend support. I believe the fib levels will be great opportunity for discounted prices, especially if we see a reversal candle close above the support.
Trade active: Hit right at the level and bounced nice. Close target at 0.763 near fib resistance and downtrend confluence. Stop right below low point at 0.7474. Considering the uncertainty of the situation small profits could be enjoyed at 0.757 and then a wait to retest 0.75.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out