GPBJPY approaching resistance, potential drop!
GBPJPY is approaching our first resistance at 146.40 (horizontal overlap resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 144.935 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (21,5,3) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also approaching our resistance where a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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