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14.01.202112:20 Forex Analysis & Reviews: GBPUSD is facing bullish pressure, potential for further upside!

Exchange Rates 14.01.2021 analysis

Price is facing bullish pressure from our first support in line with our horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this to our first resistance target.

Trading Recommendation

Entry: 1.36181

Reason for Entry:

horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 1.36941

Horizontal swing high resistance

Stop Loss: 1.35711

Reason for Stop Loss:

50% fibonacci retracement and 100% fibonacci extension

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

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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