FX.co ★ GBPUSD is facing bullish pressure, potential for further upside!

Price is facing bullish pressure from our first support in line with our horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this to our first resistance target.

Trading Recommendation

Entry: 1.36181

Reason for Entry:

horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 1.36941

Horizontal swing high resistance

Stop Loss: 1.35711

Reason for Stop Loss:

50% fibonacci retracement and 100% fibonacci extension