GBPUSD facing bearish pressure | 5th August 2021

GBPUSD reversed from 1st resistance of 1.39391, in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension. Prices are expected to fall to1st support of 1.38275, in line with 38.2% retracement and 50% extension. Alternatively, price may rally to 2nd resistance 1.40014, in line with 161.8% Fibonacci retracement and extension. Indicator showing bearish bias.

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