Price is approaching our first support (100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce to our major resistance ( 23.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) might occur. Stochastic is also approaching support where we might see a bounce. 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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