GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.2797 (horizontal overlap support, 61.8% Fibonacci extension, 76.4%, 50% Fibonacci retracement, Elliot wave structure) where a strong bounce might occur pushing price up to our major resistance at 1.2959 (horizontal swing high resistance, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce 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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