GBP/USD approaching resistance, potential drop!

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Price is approaching our first resistance where we might see a drop below this level.

Entry : 1.2763

Why it's good : Horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement

Stop Loss : 1.2810

Why it's good : horizontal pullback resistance, 38.2% Fibonacci retracement

Take Profit : 1.2645

Why it's good : 61.8% Fibonacci retracement,61.8% Fibonacci extension, Horizontal swing low support

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