GBPUSD approaching its resistance, potential reversal!
GBPUSD is approaching its resistance at 1.4100 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially react, bringing price down to its support area at 1.3986 (100% Fibonacci extension, 61.8% Fibonacci extension x2, 50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support). We have also identified another resistance at 1.4138 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance).
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 99%.
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 99%.
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