GBPUSD is approaching our first resistance at 1.3297 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 1.3154 (61.8% Fibonacci extension). A breakout below our intermediate support at 1.3212 (horizontal swing low support) might provide the bearish acceleration to our major support level. Stochastic (55,5,3) is also approaching our resistance and a reaction off this level 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.