1οΈβ£ Negative USD-Positive brexit talks will boost this pair upwards 2οΈβ£ GBPUSD Has break the downward channel 3οΈβ£ 1.37000 acting as strong resistance level 4οΈβ£ 1.37000 Major upper side resistance Key reversal area 5οΈβ£ 1.36100 acting as key support .618 Fibonacci 6οΈβ£ 02 nd Sub micro Elliot wave is formed 7οΈβ£ Technical support - Bull 8οΈβ£1.37700 will acted as key reversal-bearish 9οΈβ£ Series of HH HL HH HL patterns π Possible swing target-1.37700 (1.217 Fibonacci) #οΈβ£ Overall bullish trend (Brexit optimism)
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π Technical bias-H4-Bullish
Price is above 50,100,200 Exponential moving average 50 Exponential moving average will act as support-Bull Ichimoku cloud -cloud is still green-Cloud support(Bull) Bollinger band- Price reached around lower band and short term pullback was expected Relative strength index - Reached around 40-Medium term bearish correction was expected MACD -Turned red and fell below the signal line ,oscillators about to cross soon Stochastic - Reached around 40- Oscillators are pointing upward
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Key reversal area's
1.36000 psychological level 1.37000 January high 1.37500 Key reversal area/psychological level 1.360950 61.8% Fibonacci retracement level 1.35770 50% Fibonacci retracement level 1.35400 series of support level 1.35400 Price action level/Possible entry- Bull 1.37700 1.217 Fibonacci/Alternative bearish entry
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