What happens if I select a regulator?

Admiral Markets UK is regulated by the UK Financial Conduct Authority (FCA): Firm Ref № 595450.

Admiral Markets AS is regulated by the Estonian Financial Supervision Authority (EFSA): License № 4.1-1/46.

Admiral Markets Cyprus Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC): License number 201/13.

Selecting one of these regulators will display the corresponding information across the entire website. If you would like to display information for a different regulator, please select it.

Thank you, got it

GBP/USD Bullish Corrective Pattern Faces Fibonacci Resistance Zone

May 31, 2018 11:21


4 hour

The GBP/USD remains in a downtrend as long as price stays below the resistance trend lines. A bearish breakout below the support trend line (green) could indicate a potential continuation towards the Fibonacci targets of wave 5. A bullish retracement could occur above the resistance trend lines or at the Fib targets for either a wave 4 (purple) or wave 2 (if the current downtrend completes a wave 1 rather than wave 3).

1 hour

The GBP/USD ending diagonal pattern could be valid but only if the GBP/USD retraces back to and bounces at the 61.8%-78.6% Fibonacci retracement zone of wave 4 (green). A bearish bounce at a shallower Fibonacci levels would indicate a bearish impulse. In both cases, price needs to break below the support trend line (green) to continue with the downtrend towards the Fibonacci targets . A break above the 78.6% Fib could indicate the end of the downtrend.

Chris Svorcik

P.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.