Bullish Outlook Seen On GBPUSD

11 thg 11, 2022

On the H4 time frame, prices are approaching the support zone at 1.15500 which coincides with the 23.6% Fibonacci retracement and 38.2% Fibonacci extension level. A break above the 1.17300 intermediate resistance could provide the bullish acceleration to the next resistance zone at 1.23200, which coincides with the 78.6% Fibonacci retracement level. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.