GBP/USD: Even though there is a down AB Boundary on the

Tian Kriek

Analyst


June 5, 2020 09:33 AM

BULLISH

Daily Trading Range:
GBP/USD: Even though there is a down AB Boundary on the Weekly chart, price is retracing inside the Down AB Boundary. The Direction of Highest Probability is Bullish. Next resistance is at 1.3000 which is a Psychological level from a historical perspective. The Daily Fibs are in an UP ABCD swing suggesting that price could move +500 pips higher to the Fibonacci D extension at 1.3148. I am looking for buy trades only and I shall look for buying opportunities at low prices. Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-london-workspaces_29/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.3250
Resistance 2: 1.3500
Resistance 1: 1.4000
Current Price 1.2697
Support 1: 1.2900
Support 2: 1.2500
Support 3: 1.2000

Two Hour Chart

Two Hour Chart
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