GBPUSD technical analysis on 04/04/2020
Trend directions of the Time frames:
TA methods: EW
The chart in details:
- met weekly resistance between 1.2367x-1.25885 (50.0% fibs and 61.8% fibs;
- in retracement to the 1.214x price handle (weekly support at 38.2% fibs);
- support zone with a range from 1.1987-1.214x is to see in the upcoming days;
- keep watching the price actions at that above-mentioned support zone;
- Resistance zone is immediately to see at 1.2362;
- if H4 candle closed above that 1.237x price handle and find support there, looking for a upward momentum to reach 1.258x.
- extended C in minor degree, ext. to 1.2217 (138.2% fibs);
- looking for a simple zigzag to meet the resistance at H4 email@example.com (50.0% fibs weekly);
- Trade well!
- Tradingscenes team