GBP/USD approaching resistance, potential drop!

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Trading Recommendation

Entry: 1.23787

Reason for Entry: 50% Fibonacci retracement, breakout level

Take Profit : 1.14386

Reason for Take Profit: 63.857 horizontal swing low support

Stop Loss: 1.27204

Reason for Stop loss: Horizontal pullback resistance, 61.8% fibonacci retracement, 78.6% Fibonacci extension

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