GBP/USD broke out of descending resistance line, potential for further rise!
May 2, 2019 3:23 am
Price broke our resistance line and we might see a further rise above our first support level to our first resistance level. Ichimoku cloud is also showing signs of bullish pressure.
Entry : 1.3013
Why it’s good : horizontal overlap support, 38.2% fibonacci retracement
Stop Loss : 1.2979
Why it’s good : 50% fibonacci retracement
Take Profit : 1.3122
Why it’s good : horizontal swing high resistance, 50% Fibonacci retracement
The material has been provided by InstaForex Company – www.instaforex.com
Price broke our resistance line and we might see a further rise above our first support level to our first resistance level. Ichimoku cloud is also showing signs of bullish pressure.
Entry : 1.3013
Why it’s good : horizontal overlap support, 38.2% fibonacci retracement
Stop Loss : 1.2979
Why it’s good : 50% fibonacci retracement
Take Profit : 1.3122
Why it’s good : horizontal swing high resistance, 50% Fibonacci retracement
The material has been provided by InstaForex Company – www.instaforex.com
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