GBPUSD testing major area of support!
Price is now testing major area of support from 1.3312 to 1.3300 (50% Fibonacci retracement, 76.4% Fibonacci retracement, Horizontal overlap support) and a possible bounce could occur at this level. Our next major level of resistance is at 1.3457 (Fibonacci retracement, horizontal swing high resistance) and our next major level of support is at 1.3210 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major support above 0.8% where a possible bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,3,1) is seeing major support above 0.8% where a possible bounce could occur.
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
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