GBPUSD is forming a strong double top reversal with 1st resistance at 1.3992 (Fibonacci retracement, breakout level, pullback resistance) and a strong drop could occur from this level to push price down towards 1.3632 support (Fibonacci retracement, breakout potential, horizontal pullback support, Fibonacci extension).
RSI (55) has made a bearish exit of our long term ascending support-turned-resistance line triggering a bearish move.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) has made a bearish exit of our long term ascending support-turned-resistance line triggering a bearish move.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results