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Price broke out of its ascending support-turned-resistance line where we expect to see a further drop to its support at 1.6618 before bouncing back up to its resistance at 1.6783.
Entry : 1.6618
Why it's good : horizontal pullback support, 50% fibonacci retracement, 100% fibonacci extension
Stop Loss : 1.6533
Why it's good : 61.8% Fibonacci retracement
Take Profit : 1.6783
Why it's good : 50% fibonacci retracement
