GBPUSD Long |Range Low| .382 Fibonacci| 200 MA| Price Action

15 oct. 2020

Evening Traders,

Today’s analysis – GBPUSD- breaking back into range, currently testing range mid, a pull back into range low is probable.

Points to consider,
- Price Action Impulse
- Range Low Support (Technical Confluence)
- Range High Target
- Oscillators Neutral
- Low Volume

GBPUSD’s immediate price action is impulsive, follow through will allow us to have a bullish bias on the market.

Range Low is in confluence with the .382 Fibonacci and 200 MA, price action is likely to be respect this region upon first test.

The Range High is immediate target, price action breaking this level will very bullish in the immediate short term.

Both Oscillators are currently neutral, trading in the bullish territory zone, remaining at this zone shows strength.

Volume profile is currently below average, an influx is highly probable with the test of range low as this is the next trade location.

Overall, in my opinion, GBPUSD is a valid long with defined risk, price action is to be used upon discretion/ management of trade.

Hope this analysis helps,

Thank you for following my work!

And remember,

“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager