FX.co ★ GBP/USD Approaching Support, Prepare For A Bounce

GBP/USD is approaching its support at 1.3003 (100% Fibonacci extension, 50%, 38.2% & 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.3154 (78.6% Fibonacci retracement, Horizontal swing high resistance).

Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.

GBP/USD is approaching its support where we expect to see a bounce.

Buy above 1.3003. Stop loss at 1.2888. Take profit at 1.3154.