GBPUSD approaching resistance, potential drop!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is approaching our first resistance at 1.2986 (horizontal overlap resistance, 23.6% Fibonacci retracement , short term descending line) where a strong drop might occur below this level pushing price down to our major support at 1.2774 (horizontal swing low support). Ichimoku cloud is also facing bearish pressure.
RSI is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Wish to learn how to do analysis like us? Take our free education bootcamp here!

Unpacking market dynamics & educating traders:
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out