GBPUSD approaching support, potential bounce!

GBPUSD is approaching our first support at 1.2983 (38.2% Fibonacci retracement, Horizontal pullback support, 61.8% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance 1.3047 (61.8% Fibonacci retracement, 50% Fibonacci retracement).

Stochastic (21, 5, 3) is approaching its support where a corresponding bounce could occur.

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