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

2019-08-30T03:14:51

Long-term review

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

Entry: 1.2288

Why it's good : 23.6% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance

Stop Loss : 1.23362

Why it's good : 23.6% Fibonacci retracement

Take Profit : 1.21862

Why it's good: Horizontal pullback support, 61.8% Fibonacci extension, 38.2% 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!