FX.co ★ Daily Video Analysis: GBPUSD facing bearish pressure, potential drop!

Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it holds below the descending trendline and moving average resistances. We could see a drop below Sell Entry, in line with 38.2% Fibonacci retracement and descending trendline resistance, towards Take Profit levels, in line with -27.2%, 78.6% Fibonacci retracement and horizontal swing low support.