GBPUSD – Demand Zone


Click here to view charts.
– GBPUSD approaching a demand zone (support) around the 1.6050-1.6035 level.
This area also confluences with the 50% & 38.2 % Fib Retracements of the AB & CB up moves respectively.
Would look to go long in around this zone.
– The dollar index also appears to be approaching a supply zone (resistance) around the 80.58-80.75 level.   This information can be used as added confirmation for the above mentioned viewpoint.
Advertisements
This entry was posted in Fibonacci, Forex, GBPUSD, Misc. Setups, Support (Demand) - Resistance (Supply). Bookmark the permalink.

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