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24.05.202209:56 Forex Analysis & Reviews: GBPUSD Potential For Bullish Continuation | 24th May 2022

Exchange Rates 24.05.2022 analysis

On the H4, with price moving above the Ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 1.25009 where the horizontal overlap support is to our 1st resistance at 1.26243 in line with the 78.6% Fibonacci projection and horizontal swing high resistance. Alternatively, price may break 1st support structure and head for 2nd support at 1.23967 where the horizontal overlap support and 61.8% Fibonacci retracement are.

Trading Recommendation

Entry: 1.25009

Reason for Entry:

Horizontal overlap support

Take Profit:1.26243

Reason for Take Profit:78.6% Fibonacci projection and Horizontal swing high resistance

Stop Loss: 1.23967

Reason for Stop Loss:

Horizontal overlap support and 61.8% Fibonacci retracement

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2022
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Daily Video Analysis: GBPUSD, H4 Bearish Continuation Strategy
Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
Author: Dean Leo
07:06 2022-07-07 UTC--4
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AUDUSD Potential For Bearish Continuation | 7th July 2022
On the H4, with price moving below the ichimoku cloud, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the 1st resistance at 0.67684 at the multiple swing lows in line with the 78.6% fibonacci projection to the 1st support at 0.66648 in.
Author: Dean Leo
03:53 2022-07-07 UTC--4
3943
GBPUSD Potential For Bearish Continuation | 7th July 2022
On the H4, with prices moving below the ichimoku indicator and within the descending channel, we have a bearish bias that price will drop from our 1st resistance at 1.19313 where the horizontal pullback resistance and 61.8% fibonacci projection are to our 1st support at 1.18235 where the 161.8%.
Author: Dean Leo
03:50 2022-07-07 UTC--4
3823
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