FX.co ★ Daily Video Analysis: GBPUSD facing bullish pressure, potential for further rise!

Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it holds above the ascending trendline support. We can also see that the Stochastic indicator has also just bounced from the lower support level where it has reacted from before, in line with our bullish bias. We could potentially see a bounce at our buy entry level, in line with our horizontal pullback support, towards our take profit level in line with our horizontal swing high resistance.