Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

GBPUSD analysis part 1 #trading #forex #forextrading #gbpusd #gbpusdanalysistoday #shots

19 Jun 2023 · 1 min

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1:01

Vladimir Ribakov breaks down GBP/USD technicals: a volume zone that could pull price, a major supply zone ready for retest, and a broken falling resistance line signaling higher highs and lows. The 61.8% Fibonacci expansion level is his next target.

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We do have here a volume zone, so there is a good chance we will enter this area. And in terms of important supply zones, so we have starting from these high and the spike and this high, it creates for us a major zone which very possibly eventually would be retested before any changes. But another fact that really, uh, catches my eye here is that this most recent falling resistance line now is broken clearly. The market creates and continuously, uh, goes with the higher highs, higher lows, and so does the RSI. The relative strength is synchronized with the price. And if we plot Fibonacci expansion on the the ongoing momentum here on the waves, we will learn that the 61.8 is indeed next