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 holding above ascending trendline support and Stochastics is also approaching the support level where it has bounced off before, showing signs of bullish pressure in line with our analysis. We could see a bounce at buy entry level, in line with 50% Fibonacci retracement, and further rise up towards take profit level, in line with -27.2% Fibonacci retracement and horizontal swing high resistance.