Today’s Forex Guide

GBP/USD: Look for break above 50% Fibonacci


Apr.22.2015

1:45 PM (EST) Update

GBP/USD 4 Hour
GBP/USD 4 Hour: Testing key support level at 1.5070

Suggested positioning: Long positions above 1.5070 with target set at 1.5180

Technical reasons why: Strong bullish sentiment found its way during the London session and currently the pair is testing 50% Fibonacci and the Ichimokue cloud with RSI heading up

Alternative Scenario: Below 1.4835 look for further drops towards 1.4500

Where to set your stops and limits:

Support Levels Turning Point Resistance Levels
1.4500 1.4835 1.5070
1.4200 1.5180

 

Back to Top

Learn How to Grow Your Wealth