Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

GBP/USD Approaching Resistance, Prepare For A Reversal

November 2, 2018 Analytics

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GBP/USD is approaching its resistance at 1.3039(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1.2916 (38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.

GBP/USD is approaching its resistance where we expect to see a reversal.

Sell below 1.3039. Stop loss 1.3133. Take profit at 1.2916.

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The material has been provided by InstaForex Company – www.instaforex.com

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