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GBPUSD approaching resistance, potential drop!

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Tickmill Broker  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort
GBPUSD is approaching our first resistance at 1.2986 (horizontal overlap resistance, 23.6% Fibonacci retracement, short term descending line) where a strong drop might occur below this level pushing price down to our major support at 1.2774 (horizontal swing low support). Ichimoku cloud is also facing bearish pressure.
RSI is also approaching resistance where we might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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