GBPUSD facing bearish pressure, potential for further drop!

FX:GBPUSD   British Pound / U.S. Dollar
Price is facing bearish pressure from our first resistance at 1.2973 (23.6% Fibonacci retracement , Horizontal overlap resistance) where we can expect a further drop to our major support level at 1.2774 (61.8% Fibonacci retracement , Horizontal swing low support).
RSI is also approaching our descending resistance line.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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