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GBP/USD supported at 88.6 fib

GBP/USD supported at 88.6 fib



The GBP/USD is currently rejecting off 88.6 after it dropped straight from POC zone I showed in the live webinar. 88.6 has held the drop making a double bottom and the GBP/USD is rejecting. New POC comes around 1.2970-1.2990 (H3, WPP. 78.6, X-cross) and the rejection might spike it up to 1.3060 where we see a confluence of a steep trend line and previous top. Further advancement targets 1.3090 zone and ONLY above it there is a scope for 1.3170. If the 4h candle closes below 1.2930 then the price might proceed to 1.2865.

Thursday, 29 Sep, 2016 / 1:14

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Source : http://www.admiralmarkets.com/analytics/technical-analysis/

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