GBP/USD remain bullish above major support

The price continues to drop towards our buying area. We prepare to buy on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) for a bounce up to at least 1.3109 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is testing major support at 7.5% and we can see bullish divergence being formed vs price signaling that a bounce is impending.

Buy above 1.3006. Stop loss is at 1.2954. Take profit is at 1.3109.


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