UK100GBP approaching support, potential bounce!
UK100GBP is approaching our support at 7104.3 (horizontal overlap support, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension). A strong bounce might occur at this level, pushing price up to our major resistance at 7221.5 (horizontal swing high resistance).
RSI (55) is approaching our major support level and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (55) is approaching our major support level and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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