08.07.202110:15 Ανάλυση και κριτικές Forex: GBPUSD approaching support, potential for bounce

Exchange Rates 08.07.2021 analysis

GBPUSD bounced from trendline resistance (now support) and price looks to swing towards 1st support at 1.37354, in-line with 78.6% Fibonacci extension and swing low support. Stochastic is signaling bearish momentum before reaching a level where previous bounces occur. Price will face bullish pressure from 1st support to 1st resistance at 1.38502, in-line with 61.8% Fibonacci retracement and descending trendline resistance.

Trading Recommendation

Entry: 1.37354

Reason for Entry:

78.6% Fibonacci extension, descending trendline support, swing low support

Take Profit: 1.38502

Reason for Take Profit:

61.8% Fibonacci retracement, descending trendline resistance

Stop Loss: 1.37319

Reason for Stop Loss:

127.2% Fibonacci extension

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

Dean Leo,
Αναλυτικός εμπειρογνώμονας της InstaForex
© 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

CADCHF bullish momentum | 27th Oct 2021
Price is reacting in an ascending channel on the daily, signifying an overall bullish trend. However, we can expect price to push down for a little from 1st Resistance in line with graphical overlap resistance towards the 1st Support 161.8% Fibonacci retracement, 38.2% Fibonacci retracement and.
Author: Dean Leo
02:07 2021-10-27 UTC--4
Daily Video Analysis: XAUUSD potential for further upside
Today we take a look at XAUUSD. 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
01:11 2021-10-27 UTC--4
GBPJPY facing bullish pressure, potential for more upside!
Price is consolidating within the ascending channel and reacting above the ascending channel support. Price could potentially bullish from 1st support at 156.719 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci extension to 1st resistance at 158.888 in line with 127.2% Fibonacci.
Author: Dean Leo
01:06 2021-10-27 UTC--4
Show more
Can't speak right now?
Ask your question in the chat.