GBPUSD testing major support, potential drop!
GBPUSD is testing its major support at 1.3930 (horizontal overlap support, 23.6% Fibonacci retracement). A breakout this level might provide bearish confirmation and push price down to our next major support at 1.3855 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension).
RSI (55,5,3) is also seeing a bearish exit and is a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55,5,3) is also seeing a bearish exit and is a good precursor for a potential drop 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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