GBPUSD swing trade
British Pound/U.S. Dollar FX:GBPUSD
As we can see, bearish still perform here,
but if we zoom out, 1.2858 are fibonacci 618 from october 2017 low to april 2018 high.
If this fibonacci point able to hold bearish movement, we have 2465 pips profit target at ABCD fibonacci projection .
This is long term setup, target will reach in more than one year.
to get more understand about this setup, please check our video analysis.
Buy long : 1.2858 (at fibonacci support)
Stoploss : 1.2579 (below next support line)
Target : 1.5323 ( ABCD fibonacci projection )
Target in pips : 2465 pips
Risk reward ratio : 8.18