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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!

GBP/USD is approaching our first resistance at 1.3238 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level to our major support at 1.3105 (horizontal swing low support, 61.8% Fibonacci retracement). Stochastic (34,5,3) is nearing resistance as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

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