GBPUSD Buy Analysis 5x Entries
With 1.31231 broken (daily close above this level) a re-test of 1.135346 the next major resistance level is likely.
We now wait on price to pull back and establish a level of resistance for a buy entry. Currently we have 5 options outlined below which we need to wait for price to test and for the market to decide on which level to resist a move lower.
1.31231 - prior major resistance level that could now become support
1.31000 - phycological level that could serve as support
50% fib level + price structure at 1.30470
61.8% fib level + price structure at 1.30206
1.3000 - phycological level that could now become support
We now wait on price to pull back and establish a level of resistance for a buy entry. Currently we have 5 options outlined below which we need to wait for price to test and for the market to decide on which level to resist a move lower.
1.31231 - prior major resistance level that could now become support
1.31000 - phycological level that could serve as support
50% fib level + price structure at 1.30470
61.8% fib level + price structure at 1.30206
1.3000 - phycological level that could now become support
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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.
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.