GBPUSD lining up a possible bounce!

26 thg 12, 2017

Price is consolidating within a triangle and is lining up for a possible bounce. We’re seeing major support above 1.3300 to 1.3311 (50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push price up to at least 1.3457 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 1.3210 (Fibonacci retracement, horizontal swing low support).

Stochastic (34,3,1) is seeing ascending support possibly signaling a bounce is impending.

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