GBPUSD Fibonacci Support Resistance Zones: GU as of June 13

Updated

These zones are calculated using Fibonacci Ratios of past price moves.
Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones.

Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically.
There are zones above and below the current price range, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.

I will update as new zones are defined by upcoming Fibs.
This post is an update to the zones I had posed about a week ago:

GU Fib Support Resistance Zones: GBPUSD: June 6

Note

As an example of my analysis:
Some of the above zones were added/modified based on this new Fib Resonance that has proven itself.

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Good UK econ news pushed price from one zone to the next.
Notice how it was a straight shot. The space between zones is no-mans land.
And it is struggling with two pretty wide zones, meaning indecision areas.

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Fascinating rejection point.
Rejected at the 618 (red) of the Zone I had derived (grey) from other previous Fibs.
Now heading back down to the previous zone, but may bounce or will at least stall at the 618 of recent move (purple)

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Stalling at the 618.
I had my fib drawn wrong apparently, should have drawn from bottom of lower zone instead of top as in previous pic. But now I know the bottom of lower zone is important!

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Nice bounce off the 618.
It is probable that GU is entering wave 5, for at least a .382 extension

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How I come up with these zones and udpate them.
See notes in these chart pics:

Zooming out to look at bigger picture

Lets see what happens and which Fib Resonances prove to be improtant.

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Wow, just noticed this.
Check the two fib extensions (multiples), RED and BLUE.
Both were drawn from a quick, strong move:

Their multiples locked sync.
Those bands will be STRONG, as evidenced already.
Next I will chose on some of the multiples as important zone boundaries.

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GU looks to be rejected at this fib zone.
If so, she's got a long way down for next real support

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Wow, that was a BIG space between zones.
Was wondering if I had missed some fibs or what.
But this drop says, there WERE NO fibs in that area

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ouch GU, eating support.
I have like NO zones below this one.
BUT, the recent movements are pointing at some before the next one I have waaaay below in main chart (drag price axis on right side downward to shrink).
Hope to update soon.

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Holy Cow, I am not finding ANY fib confluences before 1.3075, and fit that fails, look out below:

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Given the last of support other than Pivots, here is what GU might do this week

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wow, GU dying, barely restested Weekly S1, let alone the fib zone above that as I expected, and there is NO support until weekly s2 at 1.3126
s3.amazonaws.com/tradingview/snapshots/l/luRPPJbd.png

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ok, lets try it again tonight.
Hoping GU does something like this today starting with London Open

EuroMotif

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