GBPUSD approaching support, potential bounce!
GBPUSD is approaching our first support at 1.2642 (horizontal swing low support, 61.8%, 100% fibonacci extension, 38.2%, 50% fibonacci retracement) where a strong bounce in price might occur pushing price up to our major resistance at 1.2736 (horizontal swing high resistance, 100% fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (21) is also approaching support and 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.
RSI (21) is also approaching support and 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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