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FX.co ★ GBP/USD bounced off support, potential for further rise!

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Forex Analysis:::2019-05-08T02:12:36

GBP/USD bounced off support, potential for further rise!

GBP/USD bounced off support, potential for further rise!

Price bounced off our first support where we might see a further rise in price.

Entry : 1.3047

Why it's good : horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 1.3017

Why it's good : 50% Fibonacci retracement

Take Profit : 1.3125Why it's good : horizontal swing high resistance, 61.8% Fibonacci retracement

GBP/USD bounced off support, potential for further rise!

Analyst InstaForex
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