FX.co ★ GBPUSD holding above ascending trendline! Further rise incoming!

Price is holding above ascending trendline support with stochastic indicator testing support where price bounced in the past. A further push up above 1st support at 1.36800 towards 1st resistance at 1.37192 could be likely.

Trading Recommendation

Entry: 1.36800

Reason for Entry:

38.2% Fibonacci retracement

Take Profit: 1.37192

Reason for Take Profit:

61.8% Fibonacci retracement

Stop Loss: 1.36573

Reason for Stop Loss:

Horizontal swing low support and Ascending trendline support