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GBPUSD approaching pivot, potential for bounce! for FX:GBPUSD by FXCM

Price is approaching pivot level at 1.36685 which, in-line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap resistance. Price may potentially drop to support at 1.36020 which is in-line with 100% Fibonacci retracement , 100% Fibonacci extension and swing low support. Stochastic is also approaching horizontal support where previous bounces occurred.
Alternatively, price may swing towards resistance at 1.37605, in-line with 23.6% Fibonacci retracement , 61.8% Fibonacci extension and trendline resistance.

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