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GBPUSD approaching resistance, potential drop!
GBPUSD is approaching our first resistance at 1.3081 (horizontal swing high resistance, 76.4% Fibonacci retracement, descending channel’s resistance) where a strong drop might occur below this level pushing price down to our major support at 1.2930 (100% Fibonacci extension, 23.6% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we are expecting a drop below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is also approaching resistance where we are expecting a drop below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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