FX.co - GBP/USD facing bearish pressure, potential for further drop!

2019-04-29T02:05:43

Relevance until2019-04-30

Price is facing bearish pressure from our first resistance where we are expecting a drop below this level.

Entry : 1.2973

Why it's good : horizontal overlap resistance, 23.6% fibonacci retracement, short term descending resistance line

Stop Loss : 1.3038

Why it's good : 50% fibonacci retracement, horizontal pullback resistance

Take Profit : 1.2774

Why it's good : horizontal swing low support, 61.8% fibonacci retracement

GBP/USD facing bearish pressure, potential for further drop!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ GBP/USD facing bearish pressure, potential for further drop!