The first two weeks of this month gbpusd has been going long for about 400 hundred pips, I expected the target resistance zone is at the price 1.34,400.
I still speculate that 1.34400 is a resistance but since the market is at the 61.8 Fibo level ,that is a potential point of price reversal, expecting sell retest makes sense to me.
Target sell retracement is at 1.25500 and target resistance after retracement is at 1.34400 .
NOTE : be optimistic but remember to take a raincoat
I still speculate that 1.34400 is a resistance but since the market is at the 61.8 Fibo level ,that is a potential point of price reversal, expecting sell retest makes sense to me.
Target sell retracement is at 1.25500 and target resistance after retracement is at 1.34400 .
NOTE : be optimistic but remember to take a raincoat
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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.