GBPUSD approaching resistance, potential drop!
GBPUSD is approaching our first resistance at 1.2973 (short term descending line, horizontal pullback resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.2774 (61.8% Fibonacci retracement, horizontal swing low support).
RSI is also approaching resistance where we might see a corresponding 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 is also approaching resistance where we might see a corresponding 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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