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GBPUSD testing major support, potential bounce!

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FX:GBPUSD   Brittiska pund/Amerikanska dollar
is testing major support at 1.3930 (horizontal overlap support, 23.6% Fibonacci retracement ). A strong bounce could occur at this level, pushing price up to our next major resistance at 1.3996 (horizontal swing high resistance, 50%, 78.6% Fibonacci retracement , 100% Fibonacci extension ).

Stochastic (34,5,3) is also seeing a bounce off its ascending support line along with a bullish divergence , a good precursor for a potential rise in price.

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Trade stängt: målet nått:
Woohoo resistance target reached perfectly guys! Did any of you guys get in on this?

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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