GBPUSD - Trading the Break of Trendline and Mirror Level
Hi Traders!
The market is moving after its fall-off in a Range.
It even made higher Highs and rejected the Break of the Support three times.
Beside the Resistance, we also have a Trendline which is coming from above.
The upper Resistance is also a Mirror Level, because it was a Support, too, before.
The target is the "Golden Zone" of the Fibonacci Retracement Tool, which is normally defined by the area between 50.0% and 61.8%.
The TP would be at the R2 from today's Pivot Points.
We recommend to trade the Retest of the Breakout!
Thanks and successful Trading :-)!
The market is moving after its fall-off in a Range.
It even made higher Highs and rejected the Break of the Support three times.
Beside the Resistance, we also have a Trendline which is coming from above.
The upper Resistance is also a Mirror Level, because it was a Support, too, before.
The target is the "Golden Zone" of the Fibonacci Retracement Tool, which is normally defined by the area between 50.0% and 61.8%.
The TP would be at the R2 from today's Pivot Points.
We recommend to trade the Retest of the Breakout!
Thanks and successful Trading :-)!