GBPUSD approaching resistance, potential drop!
GBPUSD is approaching our first resistance at 1.3571 (horizontal swing high resistance, 76.4% Fibonacci retracement) where it could potentially drop to our first support at 1.3526 (horizontal swing low support, 38.2% Fibonacci retracement). A breakout below our first support might push price down to our second support at 1.3476 (horizontal swing low support, 61.8% Fibonacci retracement).
RSI (55) is also reacting off our major resistance where a reaction off this level might see a corresponding drop in price.
RSI (55) is also reacting off our major resistance where a reaction off this level might see a corresponding drop in price.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.