FX.co - GBP/USD approaching resistance, potential drop!

2019-06-04T02:11:23

Long-term review

Price is approaching our first resistance level where we might see a corresponding drop.

Entry : 1.2747

Why it's good : Horizontal swing high resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.2872

Why it's good : Horizontal pullback resistance, 38.2% Fibonacci retracement

Take Profit : 1.2578

Why it's good : 78.6% Fibonacci retracement, horizontal swing low support

GBP/USD approaching resistance, potential 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 approaching resistance, potential drop!