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GBPUSD forming a double top reversal, keep an eye out!

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.

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Tickmill

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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