Price is approaching our first resistance (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where we might see a drop to our major support at 1.3404 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement). Stochastic is also approaching resistance where we might see a corresponding drop in price. 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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