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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 bounced off support, potential for further rise!

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Price bounced off our first support where we might see a further rise in price.

Entry : 1.3047

Why it's good : horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 1.3017

Why it's good : 50% Fibonacci retracement

Take Profit : 1.3125Why it's good : horizontal swing high resistance, 61.8% Fibonacci retracement

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