GBPUSD approaching major support, potential for a bounce
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.
Our resistance remains at 1.4135 which is a major swing high and a strong 61.8% Fibonacci retracement level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.