GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.2797 (horizontal overlap support, 50%, 76.4% fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.2973 (horizontal swing high resistance, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding rise in price.
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 where we might see a corresponding rise 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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