GBPUSD approaching major support, potential for a bounce

22 בפבר׳ 2018

GBPUSD is approaching strong support at 1.3766 and there's a strong potential for a bounce from here. There's multiple fibonacci retracement, extensions and supports at that level. At the same time, we're seeing stochastic approach a strong area of support too where a corresponding bounce could occur.

Our resistance remains at 1.4135 which is a major swing high and a strong 61.8% Fibonacci retracement level.