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GBPUSD approaching resistance, potential drop!

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
easyMarkets Broker  
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBP gpbusd USD gbpusdlong gbpusdshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern gbp gpbusd usd gbpusdlong gbpusdshort forex forextrading forexsignals
GBPUSD is approaching our first resistance at 1.4279 (horizontal swing high resistance, 61.8% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.4092 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).

Stochastic (89,5,3) is also approaching our major resistance and we might see a corresponding drop in price should it react off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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