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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!

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GBPUSD is approaching our first resistance where we might be seeing a drop below this level.

Entry: 1.2152

Why it's good : Horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.2358

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

Take Profit : 1.1904

Why it's good: Horizontal swing low support

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