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Daily Video Analysis: GBPUSD is facing bullish pressure, potential for further rise!

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Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. GBPUSD is facing bullish pressure and could potentially rise further from our buy entry level at 1.34346, in line with our 23.6% Fibonacci retracement level and horizontal swing low support, towards our first take profit level at 1.35396, in line with our -27.2% Fibonacci retracement level, 78.6% Fibonacci extension level and horizontal swing high resistance. It could also rise further to our second take profit level which is in line with our -61.8% Fibonacci retracement level.

The material has been provided by InstaForex Company - www.instaforex.com
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