FX.co ★ GBPUSD testing ascending trendline support! Further bounce incoming!

GBPUSD holding above ascending trendline support. A short term push up above our 1st support at 1.38688 towards our 1st resistance at 1.39293 could be possible. Stochastic is testing support as well.

Trading Recommendation

Entry: 1.38688

Reason for Entry:

61.8% Fibonacci retracement, ascending trendline support

Take Profit: 1.39293

Reason for Take Profit:

Graphical swing high

Stop Loss: 1.38357

Reason for Stop Loss:

Graphical swing low