GBPUSD approaching resistance, potential drop!

GBPUSD is approaching our first resistance at 1.3065 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8%, 100% Fibonacci extension, descending channel’s resistance) where a strong drop might occur pushing price down to our major support at 1.2830 (61.8% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
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Chart PatternsForexforexsignalsforextradingGBPGBPUSDgbpusdlonggbpusdshortHarmonic PatternsTrend AnalysisUSD

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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