GBP/USD testing resistance, potential reversal!

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GBPUSD is testing our first resistance where we might be seeing a drop below this level.

Entry: 1.2520

Why it's good : horizontal pullback resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.2576

Why it's good : 38.2% Fibonacci retracement

Take Profit : 1.2460

Why it's good: 61.8% Fibonacci extension

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