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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 reversal coming!

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GBPUSD approaching resistance, potential reversal coming!

Description :

Price is approaching our first resistance where we might see a corresponding drop in price.

Entry : 1.2740

Why it's good : 23.6% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.2825

Why it's good : 38.2% Fibonacci retracement, Horizontal swing high resistance

Take Profit : 1.2605

Why it's good : Horizontal swing low support, 76.4% Fibonacci retracement

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