FX.co ★ GBPUSD reversing from 1st resistance, facing bearish pressure!

GBPUSD has reversed below the 1st resistance, in line with descending trendline resistance, 61.8% Fibonacci retracement and 127.2% Fibonacci extension. Prices are likely to fall towards 1st support, in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. Prices may rise to 2nd resistance, in line with -61.8% Fibonacci retracement. Moreover, Stochastic is reversing from hidden resistance at 92.49.