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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 support, potential bounce!

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Price is approaching support where we are expecting a bounce above this level.

Entry : 1.2930

Why it's good : 78.6% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.2861

Why it's good : horizontal swing low support

Take Profit : 1.3053

Why it's good : horizontal overlap resistance, 50% Fibonacci retracement

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