GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.3917 (horizontal overlap support). A strong bounce might occur above this level, pushing price up to our major resistance at 1.3991 (horizontal overlap resistance, 23.6% Fibonacci retracement).
Stochastic (89,5,3) is seeing a bullish divergence and approaching our major support where a bounce off this level could 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 (89,5,3) is seeing a bullish divergence and approaching our major support where a bounce off this level could 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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