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theforexarmy

GBPUSD bouncing nicely, remain bullish

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Libra Esterlina/Dólar Americano (FX:GBPUSD)  
theforexarmy  
FX:GBPUSD   Libra Esterlina/Dólar Americano
GBPUSD gbpusdshort gbpusdidea gbpusddaily gbpusdnews gbpusdlong USD GBP gbpusdanalysis gbpusd1hr gbpusdlongsetup gbpusdsell gbpusdsignal
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gbpusd gbpusdshort gbpusdidea gbpusddaily gbpusdnews gbpusdlong usd gbp gbpusdanalysis gbpusd1hr gbpusdlongsetup gbpusdsell gbpusdsignal
Buy above 1.2433. Stop loss at 1.2330. Take profit at 1.2563.
Reason for the trading strategy (technically):
GBPUSD has touched our entry level and is bouncing nicely as expected. We remain bullish on GBPUSD above major support at 1.2433 (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a bounce up to 1.2563 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is bouncing nicely above strong support at 4% and displays bullish divergence vs price.

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theforexarmy
GBPUSD reached profit target, turn bearish
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