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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: 1.2205

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

Stop Loss : 1.2254

Why it's good : Horizontal swing high resistance

Take Profit : 1.2079

Why it's good: Horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension

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