EUR/GBP approaching resistance, potential drop!

analytics5ce6048280de0.jpg

Price is approaching our first resistance level.

Entry : 0.8858

Why it's good : 61.8% Fibonacci retracement, channel's resistance

Stop Loss : 0.8956

Why it's good : horizontal overlap resistance, 78.6% Fibonacci retracement

Take Profit : 0.8773

Why it's good :23.6% Fibonacci retracement, horizontal overlap support

analytics5ce6045960c29.png

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