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

2019-09-09T05:43:55

Long-term review

GBPUSD is facing bearish pressure from our first resistance where we could be seeing a further drop below this level.

Entry: 1.2383

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

Stop Loss : 1.2522

Why it's good : horizontal swing high resistance

Take Profit : 1.2167

Why it's good: Horizontal overlap support, 50% Fibonacci retracement

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