GBPUSD bounced off support, potential for further rise!
Price bounced off our first support (horizontal overlap support, 38.2%, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce to our first resistance at 1.3175 (horizontal swing high resistance) might occur. Stochastic is approaching support where we might see a corresponding bounce as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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