The GBP/USD is bullish but might drop to the 1st support at 1.2621, a swing low support, before potentially rebounding. If it breaks this support, it could fall to the 2nd support at 1.2497, an overlap support and a 78.60% Fibonacci retracement level. If it bounces back, it might face resistance at 1.2750, an overlap resistance with Fibonacci confluence, and if it continues to rise, the next resistance at 1.2876, a 61.80% Fibonacci retracement level, could challenge further growth.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD is bullish but might drop to the 1st support at 1.2621, a swing low support, before potentially rebounding. If it breaks this support, it could fall to the 2nd support at 1.2497, an overlap support and a 78.60% Fibonacci retracement level. If it bounces back, it might face resistance at 1.2750, an overlap resistance with Fibonacci confluence, and if it continues to rise, the next resistance at 1.2876, a 61.80% Fibonacci retracement level, could challenge further growth.
The material has been provided by InstaForex Company – www.instaforex.com
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