GBPUSD has some precisely defined Support Resistance: GU scalp?

GU has been quite weak but had a decent bounce.
It has been tightly bound by the blue Fibonacci set.
Monday open started a leg down that might continue.

1.249x is where a clear/precise rejection might occur.
1.245x is the first support bulls will be watching to buy.
1.242x is the last stand for bulls to turn the trend bull.

Break above 1.250 would invalidate lower prices.
Break below 1.243 would resume the downtrend.
Ranging in between is very likely early in the week.


See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.

GBP.USD dip Call (just in time, quick 70 pips)
EUR.USD short call (in time, to the Pip)
EUR.USD long call (scalp that ran hard)
EUR.USD short Call (perfect top, huge profits)
EUR.USD trend Short (the very tip-top a year ago)
USD.CAD short call (perfect entry, huge profits)
DXY toping call (Upthrust warning just in time)
USD.JPY short to long (recent perfect entries)
AUD.USD trend Short (perfect short a year ago)
XAU.USD to new highs? (caught all of the spike)
Silver Long call (Perfect entry, still in play)
Copper Long scalp (Prefect entry, almost done)
SPX recent top (Fib extensions at work)

Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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Might be coming in for a Landing here

Should see a bit if a bounce here, although the Brexit news will probably push it lower...

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Decent bounce where expected

this "should" come back to 1.248x area but not betting on that, closed shorts for now though. Lets see what New York does with it today....

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Ping

bounce looks decently strong, might got a little higher yet

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