GBPUSD is approaching major resistance at 1.3923 (100% Fibonacci extension , 61.8% Fibonacci extension x2, 61.8% Fibonacci retracement , 50% Fibonacci retracement , horizontal overlap resistance) and could potentially fall to its 1st support at 1.3708 (61.8% Fibonacci extension , L T 100% Fibonacci extension , horizontal swing low support) or to its 2nd support at 1.3659 (100% Fibonacci extension , horizontal overlap support). We have also identified a 2nd resistance at 1.3994 (76.4% Fibonacci retracement , 61.8% Fibonacci retracement ) and a descending resistance line.
Stochastic (89, 5, 3) shows it approaching its resistance at 98.6% where a corresponding reaction could occur.
Stochastic (89, 5, 3) shows it approaching its resistance at 98.6% where a corresponding reaction could occur.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.