GBPUSD, potential long at triple bottom
Order is showed on chart. Plan is to catch the price when it falls down, which it probably will do soon due to being oversold (See RSI), as well as the price is currently trading between fibonacci 61.8 and 76.4.
The pair has formed a double bottom twice at the support zone, and if you have a look at RSI, then you can see that it has been oversold both times, and it has came from a oversold position (Which we currently find us self in). If the price is rejected here, then we would see a triple bottom. Keep in mind that this support has held since 2002.
Order is as following:
Entry: 1.407
Target: 1.43 (right below fibonacci 61.8
SL 1.403
The pair has formed a double bottom twice at the support zone, and if you have a look at RSI, then you can see that it has been oversold both times, and it has came from a oversold position (Which we currently find us self in). If the price is rejected here, then we would see a triple bottom. Keep in mind that this support has held since 2002.
Order is as following:
Entry: 1.407
Target: 1.43 (right below fibonacci 61.8
SL 1.403
