1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

GBP/USD Bearish Price Action Breaks Support But Approaches Fib Confluence

Discussion in 'Technical Analysis' started by Kaitlin, Jun 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Joined:
    Aug 29, 2015
    Messages:
    5,858
    Likes Received:
    0
    The current bearish momentum has been marked as a retracement for a wave X (purple), but this wave structure is invalidated if price manages to break below the long-term support trend line (green) and 100% Fibonacci level. The 61.8% and 78.6% Fibonacci retracement levels could become bullish bounce spots.[​IMG]

    Continue reading...
     

Share This Page