• Oct 9, 2024
  • Trade ideas

GBPUSD: Resistance Retest

GBPUSD, Daily

GBPUSDDaily.png

On the Daily timeframe, GBPUSD breached below the rising wedge and retested the 1.3110 resistance, aligned with the 38.2 Fibonacci ratio.

The Momentum crosses the 100-level downwards and the William’s Lips line breaks the Jaws line down, confirming the asset's bullish trend.

  • Consider the short on the GBPUSD with the target at 1.2910 and the golden Fibonacci ratio.
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Author: Timur Yurdagyul