GBP/USD approaching resistance, potential drop!

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Trading Recommendation

Entry: 1.30821

Reason for Entry: 100% Fibonacci extension, horizontal swing high resistance, 78.6% fibonacci retracement

Take Profit : 1.29493

Reason for Take Profit: Horizontal overlap support, 61.8% fibonacci retracement

Stop Loss: 1.31472

Reason for Stop loss: 78.6% Fibonacci retracement

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