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GBP/USD approaching resitance, potential drop!

GBP/USD is approaching our first resistance at 1.3238 (horizontal overlap resistance, 61.8% extension, 61.8% fibonacci retracement) where a strong drop might occur below this level pushing the price down to our major support at 1.3105 (61.8% fibonaccci retracement).Stochastic is also nearing resistance where we 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.
by Jeff Wecker
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GBP/USD approaching resitance, potential drop!

GBP/USD is approaching our first resistance at 1.3238 (horizontal overlap resistance, 61.8% extension, 61.8% fibonacci retracement) where a strong drop might occur below this level pushing the price down to our major support at 1.3105 (61.8% fibonaccci retracement).Stochastic is also nearing resistance where we 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.
by Jeff Wecker
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NZD/USD approaching support, potential bounce!

NZD/USD is approaching our first support at 0.6832 (horizontal swing low support, 61.8% Fibonacci extension, 50%, 76.4% Fibonacci retracement) where a strong bounce might occur above this level pushing the price up to our major resistance at 0.6932 (horizontal swing high resistance).Stochastics (34,5,3) is also nearing support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
by Jeff Wecker
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USD/CAD approaching support, potential bounce!

USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement , 100%, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.3381 (horizontal pullback resistance, 61.8% Fibonacci retracement).Stochastic (34,5,3) is nearing support as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
by Jeff Wecker
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NZD/JPY approaching resistance, potential drop!

NZD/JPY is approaching our first resistance at 76.62 (horizontal pullback resistance, 100%, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level to our major support at 75.22 (horizontal swing low support, 50% Fibonacci retracement).Stochastic (89,5,3) is also nearing resistance where we 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.
by Jeff Wecker