UK100GBP approaching support, potential bounce!

UK100GBP is approaching our support at 7104.3 (horizontal overlap support, 38.2%, 50% Fibonacci retracement , 100% Fibonacci extension ). A strong bounce might occur at this level, pushing price up to our major resistance at 7221.5 (horizontal swing high resistance).

RSI (55) is approaching our major support level and a bounce off this level might be a good precursor of a potential rise in price.

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