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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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GBP/USD at major resistance, time to sell

Price is seeing major resistance at 1.2685 (Fibonacci projection, horizontal pullback resistance, previous swing high, Fibonacci retracement) and we expect a drop from this level towards 1.2303.

Stochastic (21,5,3) is seeing major resistance at 94% where we expect a drop from.

RSI (34) is seeing major resistance at 70% where we expect a similar drop from.

Sell below 1.2685. Stop loss at 1.2894. Take profit at 1.2303.

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The material has been provided by InstaForex Company - www.instaforex.com