4 Fibs all lining up, Sell GBPUSD!!
Starting with the April 2018 high down to the September 2019 low, price retraced up to the 62 fib during the British elections, also bouncing off its years long resistance trendline .
From the election high down to the December 23rd low, the 62 fib was touched on December 31st.
From that high down to the January 3rd low, price jumped just above the 62 fib yesterday on the 7th.
Now from that high back down to yesterdays low, the high today just touched the 62 fib.
Today's and yesterdays bounces are less strong than the higher timeframe ones, so I have my stop losses staggered just above these different highs. Choose your risk comfort, I plan to hold all the way down to the 200 daily moving average around 1.27-1.28, lots of profit to be had!
GLTA, cheers
From the election high down to the December 23rd low, the 62 fib was touched on December 31st.
From that high down to the January 3rd low, price jumped just above the 62 fib yesterday on the 7th.
Now from that high back down to yesterdays low, the high today just touched the 62 fib.
Today's and yesterdays bounces are less strong than the higher timeframe ones, so I have my stop losses staggered just above these different highs. Choose your risk comfort, I plan to hold all the way down to the 200 daily moving average around 1.27-1.28, lots of profit to be had!
GLTA, cheers
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