Weekly Technical Analysis Report 13 October – Limited upside seen on GBPUSD
October 13, 2022
Weekly Technical Analysis Report 13 October – Limited upside seen on GBPUSD
- This week’s outlook on GBPUSD: Bullish play seen
On the M15 timeframe, prices are testing the M15 demand zone at 1.1080, in line with the 61.8% Fibonacci retracement. We could see further upside above this zone to the next resistance zone at 1.1130. This resistance zone coincides with the 61.8% Fibonacci extension and 78.6% Fibonacci retracement level. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
Limited upside seen on GBPUSD: 13 October 2022 by Salzworth on TradingView.com
