GBPUSD Strategic View: Turn bullish above strong support
Buy above 1.2415. Stop loss at 1.2250. Take profit at 1.2850.
Reason for the trading strategy:
We turn bullish above 1.2210 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to 1.2400 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 7.9% level where we hope to see a bounce from.
Reason for the trading strategy:
We turn bullish above 1.2210 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to 1.2400 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 7.9% level where we hope to see a bounce from.
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