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08.07.202110:15 Forex Analysis & Reviews: 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

*Analiza de piață publicată aici este menită să vă sporească conștientizarea, nu pentru a oferi instrucțiuni pentru a efectua un schimb.

Dean Leo,
Expert analitic al companiei InstaForex
© 2007-2021
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EURJPY short-term bullish bounce | 23rd Sep 2021
Price is holding below the descending trendline resistance, however we are expecting price to be making a short-term bullish bounce as price is seen to bounce off the 1st support. We can expect the price to bounce from the 1st Support and ride the bullish momentum towards the 1st resistance in line.
Autor: Decan Leo
00:35 2021-09-23 UTC--4
2653
USDCAD holding above ascending trendline channel! Further upside coming!
USDCAD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up to our 1st resistance at 1.29500 could be possible.
Autor: Decan Leo
23:56 2021-09-22 UTC--4
2623
USDJPY reversed from resistance, potential drop!
Price is approaching 1st resistance at 110.053 in line with Horizontal swing high and 100% Fibonacci extension where it could reverse down to 1st support at 109.120 in line with Horizontal swing low and 61.8% Fibonacci extension. Our bearish bias is further supported by how RSI is approaching.
Autor: Decan Leo
23:52 2021-09-22 UTC--4
2503
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