GBPUSD, Daily
On the Daily timeframe, GBPUSD faces a support zone at the 1.2900 level aligned with the 100.0 Fibonacci retracement. The MFI indicates a bearish divergence, and the RSI leaves the overbought zone, giving an extra bearish sentiment.
- If the price rebounds off the 1.2900 support, it may rise to the 1.3120 level.
- However, if the asset breaches below the support, it may fall to the 1.2670 and golden Fibonacci ratio.