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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 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