GBP/USD chart has bearish momentum, despite being above a major ascending trend line that suggests potential bullish momentum. Possible bearish continuation towards 1st support at 1.2673, with overlap support and 50% Fibonacci Retracement. 2nd support at 1.2599 also acts as overlap support and aligns with 50% Fibonacci Retracement. On the upside, 1st resistance at 1.2721 is a multi-swing high resistance with Fibonacci confluence. 2nd resistance at 1.2771 is a swing high resistance with 78.60% Fibonacci Retracement.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD chart has bearish momentum, despite being above a major ascending trend line that suggests potential bullish momentum. Possible bearish continuation towards 1st support at 1.2673, with overlap support and 50% Fibonacci Retracement. 2nd support at 1.2599 also acts as overlap support and aligns with 50% Fibonacci Retracement. On the upside, 1st resistance at 1.2721 is a multi-swing high resistance with Fibonacci confluence. 2nd resistance at 1.2771 is a swing high resistance with 78.60% Fibonacci Retracement.
The material has been provided by InstaForex Company – www.instaforex.com
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