GBPUSD broke strong key support, big upcoming drop!
Price has broke a key support level at 1.2973 (short term descending line, horizontal pullback resistance, 23.6% Fibonacci retracement) and we’re seeing strong bearish pressure from our descending resistance line. RSI is also seeing bearish pressure from our descending line. We expect to see a drop all the way down to 1.2774 (61.8% Fibonacci retracement, horizontal swing low support) from here.
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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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