GBPUSD testing resistance, potential drop!
Price is testing our first resistance at 1.3259 (horizontal overlap resistance) and a strong reaction might occur to push price down to our major support at 1.3204 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is seeing a bearish exit and we 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.
RSI (34) is seeing a bearish exit and we 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results