GBP/USD May rise 70-100 pips
Insight - Price still moving in a downwards trend and has broken previous support level with price now below the 23% as per new fib levels. Price may bounce off the weekly upwards trendline at support 1.2261. If resistance at 1.2439 is broken, price could go long unless fundamental events push price downwards.
Intraday - Sell
Trade: Buy
Buy or Above: 1.2261
Target TP: 1.2439 & 1.2550
Pivot and Support 1.2261
Trade: Sell
Sell or Below 1.2261
Target TP: 1.2202 & 1.2104
Insight - Price still moving in a downwards trend and has broken previous support level with price now below the 23% as per new fib levels. Price may bounce off the weekly upwards trendline at support 1.2261. If resistance at 1.2439 is broken, price could go long unless fundamental events push price downwards.
Intraday - Sell
Trade: Buy
Buy or Above: 1.2261
Target TP: 1.2439 & 1.2550
Pivot and Support 1.2261
Trade: Sell
Sell or Below 1.2261
Target TP: 1.2202 & 1.2104