easyMarkets
Short

GBPUSD approaching resitance, potential drop!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is approaching our first resistance at 1.3238 (horizontal overlap resistance, 61.8% extension, 61.8% fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1.3105 (61.8% fibonaccci retracement).
Stochastic 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.


Nice. I have something similar with 1.3060 as my target.

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