Price have Significant Swing Low at 1.0500 (A) and rise up to 1.1050 (B). It retrace back and fall to 1.0700 (C) at level 61.8 Fibonacci Retracement level. Now e got ABC setup.
By using Fibonacci Extension, draw at ABC point to get Point D.
We also can see, price reject at Fibonacci Extension level 100, at 1.1250 ...
As well as i see.. Some rejection archive at Support Become Resistance. That mean for today i will focus on SELLING GBPUSD. SELL LIMIT 1.5430 STOP LOSS 1.5635 TAKE PROFIT 1 1.5350 TAKE PROFIT 2 1.5160
What Your Opinion guys?
My obsrvation for this pair, Weekly CS not too strong BEARISH. After retracement by retracement, Daily was going up and weekly CS will close as strong BULLISH. No trade for today, but if you want to try, this is my signal:
BUY LIMIT : 1.12300 SL: 1.1180 TP: 1.13700