By: DailyForex.com
Currency: GBP/USD
Trend Expected Direction: Uptrend
Method: Fibonacci & Resistance
Description: the GBP/USD Has hit the 23.8% Fibonacci level at 1.6060 which is also a resistance level in this case. The price is also near the uprising trend line which makes this a good point to enter a long position on this pair.
Action: Best action is to buy
Target Area: First target is 1.6120, second target is 1.6170 and the third is 1.6300
Stop Loss: 1.6015 and if you want to give it a wider range, it can be 1.5870
