Cable H4 | Resistance at 38.2% Fibonacci retracementCable (GBP/USD) could rise towards a swing-high resistance and potentially reverse off this level to drop lower.
Sell entry is at 1.3103 which is a swing-high resistance that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 1.3145 which is a level that sits above the 61.8% Fibonacci retracement level and a swing-high resistance.
Take profit is at 1.3001 which is a swing-low support.
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Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% 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.
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Losses can exceed deposits.
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