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Britishpound

Fantastic Golden Pocket Fib Opportunity on GBP/USDIn this idea I will explain to you how to use one of the lesser known strengths of the Fibonnaci Retracement, called the Golden Pocket. We will use it to show a LONG opportunity on GBP/USD, including two different fib based targets. The “golden pocket” is the name of the area in between the 0.65 and 0.618 Fibonnaci retracement (Where 0.618 is related the golden ratio, which gives it the name "golden"). I usually make the area a bit bigger which is why I charted it here from the 0.618 and the 0.786 level. This area is known for its high likelihood of trend reversals. The fact that the price is now in this golden pocket means that there might come a stop to the temporary downtrend on GBP/USD that we have seen in the last two weeks. I suggest a long trade set-up here to the 0.382 level for target one and to 0.236 level for target two. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
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