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

2019-09-02T09:42:03

Long-term review

GBPUSD is approaching our first resistance where we might be seeing a drop below this level.

Entry: 1.21793

Why it's good : 23.6% Fibonacci retracement, horizontal overlap resistance

Stop Loss : 1.2227

Why it's good : 50% Fibonacci retracement

Take Profit : 1.21180

Why it's good: Horizontal swing low support, 61.8% Fibonacci retracement

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!