GBP/USD Approaching Support, Prepare For A Bounce!

GBP/USD is approaching support at 1.3082 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where we expect price to bounce up to its resistance at 1.3213 (61.8% & 76.4% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is approaching its support at 3.75% where a corresponding bounce could occur.

GBP/USD is approaching its support where a bounce is expected.

Buy above 1.3082. Stop loss at 1.3010. Take profit at 1.3213.

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