GBP/USD Supported At 88.6 Fib

Nenad Kerkez
By Nenad Kerkez of Admiral Markets
Analyst, Full-Time Trader •

GBP/USD is supported at 88.6. Further advancement targets the 1.3090 zone and only above it there is scope for 1.3170. If the 4h candle closes below 1.2930 then the price might proceed to 1.2865.

GBP/USD supported at 88.6 fib


 
The GBP/USD is currently rejecting off 88.6 after it dropped straight from POC zone I showed in the live webinar. 88.6 has held the drop making a double bottom and the GBP/USD is rejecting. New POC comes around 1.2970-1.2990 (H3, WPP. 78.6, X-cross) and the rejection might spike it up to 1.3060 where we see a confluence of a steep trend line and previous top. Further advancement targets 1.3090 zone and ONLY above it there is a scope for 1.3170. If the 4h candle closes below 1.2930 then the price might proceed to 1.2865.

Disclosure:

None.

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Also Mentions:
GBBEF

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