Long GBPUSD
1. Price testing short term ascending support level, major support level at 1.38740 (horizontal swing low support, 76.4% fibonacci retracement level). Good entry should prices break out of the descending parallel channel's resistance
2. Major support level at 1.3852 (horizontal overlap support, 76.4% fibonacci retracement level, 61.8% fibonacci extension level)
2. Major support level at 1.3852 (horizontal overlap support, 76.4% fibonacci retracement level, 61.8% fibonacci extension level)
Trade closed: stop reached
down 79 pipsNote
trend is your friend - don't go against the trend since the fibonacci extension is identified. Short entry after it broke out of the ascending support line would be a good call
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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.