GBP/USD Strong Zone Is Supporting The Bulls

The GBP/USD has made a strong retracement and now the price is exactly at the 61.8 fib retracement of the last swing.

W H3/D H3 rejection is expected as it constitutes the POC zone 1.3850-70 We should see a move towards the W H4 – 1.3915. A successful retest of 1.3938 is also possible. In that case, look for a possible breakout or a bounce. If it happens 1.3975 is next. Bulls should be safe as long as the price is above 1.3820.


Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.