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GBPUSD approaching resistance, potential drop!

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
easyMarkets Broker  
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort forex forextrading forexsignals
GBPUSD is approaching our first resistance at 1.4192 (horizontal overlap resistance, 78.6% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.4089 (horizontal overlap support).

Stochastic (34,5,3) is also seeing a bearish divergence and is approaching our major resistance. A reaction off this level might be a good precursor for a potential drop in price.

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