GBPUSD under heavy pressure, potential for further drop
GBPUSD remains under strong bearish pressure from our descending resistance line and a further drop could occur below 1.3910 resistance (Fibonacci retracement, horizontal swing high resistance, descending resistance) for a push down towards 1.3632 support (Fibonacci retracement, horizontal pullback support).
RSI (34) sees our descending resistance line correspondingly holding price down really well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees our descending resistance line correspondingly holding price down really well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.