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

Entry: 1.2288

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

Stop Loss : 1.23362

Why it's good : 23.6% Fibonacci retracement

Take Profit : 1.21862

Why it's good: Horizontal pullback support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

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