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KrysB

GBP/USD calling for the second extension

Long
British Pound / U.S. Dollar (OANDA:GBPUSD)  
KrysB  
OANDA:GBPUSD   British Pound / U.S. Dollar
Chart Patterns Trend Analysis GBPUSD Bullish Engulfing extension 618 Fibonacci Retracement LONG
1
0
chartpattern trendanalysis gbpusd bullishengulfing extension 618fibonacciretracement long
Bullish engulfing candle near major support level 1.2900 and FIB-retracement level 61.80%
with a crossover of the Stochastic in oversold conditions on the Daily.

Once engulfing candle is closed and fully formed, I'll be watching for a long entry at the 1 hour chart with an
oversold Stochastic and confirmation of a candlestick pattern.

TP1: 1.3300
TP2: 1.3500

SL: below the low of the bullish engulfing pattern.

K.
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