GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.3063 (horizontal overlap support, 50% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3208 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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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