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Short

GBPUSD approaching resistance, potential drop!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is approaching our first resistance at 1.2849 (horizontal swing high resistance, 100% fibonacci extension , 23.6%, 61.8% fibonacci retracement ) where a strong drop might occur pushing price down to our major support at 1.2738 (horizontal swing low support, 23.6% fibonacci retracement ).
Stochastic (89,5,3) is also approaching our resistance where we might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

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With you on this one, although it might go up a little, eventually it is highly likely to go up.
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