GBPUSD is approaching our first resistance at 1.3059 (horizontal overlap resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.2911 (horizontal swing low support, 61.8%, 76.4% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.