GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.3467 (horizontal overlap support, 38.2% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3572 (horizontal swing high resistance, 76.4% Fibonacci retracement).
Stochastic is also approaching our major support in line with the potential downside in price before it reaches our first support. A bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also approaching our major support in line with the potential downside in price before it reaches our first support. A bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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