Get started
T3-Consultancy

GBPUSD H1: Bullish outlook seen, further upside above 1.2820

Long
British Pound / U.S. Dollar (PEPPERSTONE:GBPUSD)  
T3-Consultancy  
PEPPERSTONE:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index GBPUSD gbpusdlong gbpusdbullish Forex forexsignals forextrading
2
0
trendanalysis harmonicpatterns chartpattern usdollar gbpusd gbpusdlong gbpusdbullish forex forexsignals forextrading
Price was range-bound between 1.2700 and 1.2750 but has recently broken out consolidation. Price is now hovering above a key support zone at 1.2720, which nears the 61.8% Fibonacci retracement, on H1 timeframe. A throwback to this zone could present an opportunity to ride the bounce to the resistance zone at 1.2820, which coincides with the 161.8% Fibonacci extension. Price is above ichimoku cloud, supporting our bullish bias.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.