GBPUSD approaching resistance, potential drop!
GBPUSD is approaching our first resistance at 1.4192 (horizontal overlap resistance, 78.6% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.4089 (horizontal overlap support).
Stochastic (34,5,3) is also seeing a bearish divergence and is approaching our major resistance. A reaction off this level might be a good precursor for 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.
Stochastic (34,5,3) is also seeing a bearish divergence and is approaching our major resistance. A reaction off this level might be a good precursor for 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.
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