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 Reversal

August 31, 2018 Analytics

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GBP/USD is approaching its resistance at 1.3075 (100% & 61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2934 (50% Fibonacci retracement, horizontal pullback support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

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

Sell below 1.3075. Stop loss at 1.3179. Take profit at 1.2934.

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

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