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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 support, potential bounce!

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GBPUSD is approaching support where we might see a bounce in price.

Entry: 1.2645

Why it's good : Horizontal swing low support, 50% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.2525

Why it's good : Horizontal swing low support, 100% Fibonacci extension

Take Profit : 1.2779

Why it's good: Horizontal swing overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

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