〽️ GBP/USD Bearish Price Action Testing Fib Support 〽️

2 min read

Hi traders,

the GBP/USD is showing bearish price action at the moment. Price is likely to fall towards the 50-61.8-78.6% Fibonacci support levels, which are new bounce or break decision zones. Ps. do not forget to check out our upcoming 4x Forex seminars on trading in Europe!

GBP/USD

4 hour

The GBP/USD could be completing a wave B (green) if price manages to make a bullish bounce at the Fibonacci support levels. A break below the bottom and 100% Fib could, however, invalid the bullish ABC (green) wave pattern.

1 hour

The GBP/USD is expected to make at least one more lower low which could be finishing a final wave 5 (brown) of wave C (orange). The Fibonacci retracement levels are key support zones.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of