GBPUSD is approaching ascending trendline support and 50% Fibonacci retracement. A short term bounce about our 1st support at 1.41496 towards graphical swing high and 1st resistance at 1.41891 could be possible. Stochastics is also approaching support where price bounced in the past as well.
Reason for Entry:
50% Fibonacci retracement, ascending trendline support
Take Profit: 1.41891
Reason for Take Profit:
Graphical swing high resistance
Stop Loss: 1.41157
Reason for Stop Loss:
Graphical swing low support
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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