GBP/USD finds support at 38.2% Fib

Sellers have failed to take out 1.2859 – 38.2% Fibonacci retracement of 1.2859-1.3026. Friday’s sell-off has left a nice falling top formation… if we do close below Friday’s low of 1.2867, a falling bottom formation would be confirmed as well. That would confirm the spot has topped out…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s