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GBPUSD testing major support, potential drop!

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Tickmill Broker  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forexsignals Bitcoin (Cryptocurrency) Cryptocurrency
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort forex forexsignals bitcoin cryptocurrency
GBPUSD is testing its major support at 1.3930 (horizontal overlap support, 23.6% Fibonacci retracement). A breakout this level might provide bearish confirmation and push price down to our next major support at 1.3855 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension).
RSI (55,5,3) is also seeing a bearish exit and is a good precursor for a potential drop in price.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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