FX.co ★ Daily Video Analysis: GBPUSD approaching key resistance, potential for a reversal!

Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching our sell entry level, which is in line with horizontal swing high resistance, where we could potentially see a reversal and further downside towards our take profit levels, in line with 61.8% Fibonacci retracement and horizontal swing low support respectively. Stochastics is also showing signs of bearish pressure, in line with our analysis.