Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances, in line with our bearish bias. We could potentially see a reversal at 1st resistance in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further downside towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.