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
RobotFX ~ Profitable Metatrader expert advisors and indicators

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