GBPUSD approaching resistance, potential drop!
GBPUSD is approaching our first resistance at 1.4097 (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 1.4013 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement).
RSI (55) is also testing its major descending resistance line and a reaction off this level might be a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (55) is also testing its major descending resistance line and a reaction off this level might be a good precursor of a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Come join us today at : easymarkets.com/
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.