GBP/USD approaching resistance, potential drop!


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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