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.
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