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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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EUR/GBP Trading Recommendations for 21st July 2016

EUR/GBP is showing a perfect corrective elliott wave structure after making 5 waves down. We now continue to play the rise up after an initial setback with our profit target at 0.8370 (fibonacci retracement + graphical resistance) and stop loss at 0.8300 (recent swing low + fibonacci projection).

The RSI is displaying a bullish divergence vs the price, which adds conviction to the rise we expect from here.

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Trading Recommendations:

Buy now and on weakness

Take profit at 0.8370

Stop loss at 0.8300

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