GBPUSD approaching its resistance, potential reversal!
GBPUSD is approaching its resistance at 1.4100 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially react, bringing price down to its support area at 1.3986 (100% Fibonacci extension, 61.8% Fibonacci extension x2, 50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support). We have also identified another resistance at 1.4138 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance).
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 99%.
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 99%.
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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.