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FX.co ★ GBPUSD is facing bullish pressure, potential for further upside!

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Forex Analysis:::2021-01-14T10:20:05

GBPUSD is facing bullish pressure, potential for further upside!

GBPUSD is facing bullish pressure, potential for further upside!

Price is facing bullish pressure from our first support in line with our horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this to our first resistance target.

Trading Recommendation

Entry: 1.36181

Reason for Entry:

horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 1.36941

Horizontal swing high resistance

Stop Loss: 1.35711

Reason for Stop Loss:

50% fibonacci retracement and 100% fibonacci extension

Analyst InstaForex
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