#GBPUSD broken beneath pivot, potential for a drop!

Price is reacting below our pivot level at 1.3755 which is in line with horizontal overlap resistance. Price can potentially take support at 1.36585, which is in line with -27.2%Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.38356, which coincides with 38.2% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap resistance . This is further supported by

Pivot:
1.37550

Why we like it:
horizontal overlap resistance

1st Support:
1.36585
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level

1st Resistance:
1.38356
38.2% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap resistance
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