GBPUSD approaching support, potential bounce!
GBPUSD is approaching is our first support at 1.3043 (horizontal pullback support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3349 (horizontal swing high resistance, 61.8%, Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also approaching support and a bounce above this level might see a corresponding rise in price.
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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