FX.co ★ GBPUSD reversing from 1st resistance, drop coming!

GBPUSD reversed from 1st resistance of 1.39391, in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension. Prices are expected to fall to1st support of 1.38275, in line with 38.2% retracement and 50% extension. Alternatively, price may rally to 2nd resistance 1.40014, in line with 161.8% Fibonacci retracement and extension. Indicator showing bearish bias.