GBPUSD under heavy pressure, potential for further drop
GBPUSD remains under strong bearish pressure from our descending resistance line and a further drop could occur below 1.3910 resistance (Fibonacci retracement, horizontal swing high resistance, descending resistance) for a push down towards 1.3632 support (Fibonacci retracement, horizontal pullback support).
RSI (34) sees our descending resistance line correspondingly holding price down really well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees our descending resistance line correspondingly holding price down really well.
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