GBPUSDGBPUSDGBPUSDGBPUSDGBPUSD - Intraday - We look to Buy at 1.2634 (stop at 1.2589)
Price action continues to be mixed and volatile for 3 days in succession resulting in spikes in both directions. The bullish engulfing candle on the weekly chart the positive for sentiment. A bullish reverse Head and Shoulders is forming. Trend line support is located at 1.2598. We have a 61.8% Fibonacci pullback level of 1.2612 from 1.2506 to 1.2783. Bespoke support is located at 1.2634.
Our profit targets will be 1.2790 and 1.2800
Resistance: 1.2740 / 1.2783 / 1.2800
Support: 1.2655 / 1.2634 / 1.2597
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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.