GBPUSD – Flat
Technical observation
GBP is trading with an increasing bullish bias above a supportive level it established at 1.1218 and today I expect a further surge to the upper side. The anticipated upwards movement of price is a correction to a zone this pair established at 1.1464-1.1450 and I expect a bounce within it to re-sell GBP with my take profit at 1.1218 and stop-loss at 1.1534. As long as the value of GBP is sustained below the zone I mentioned earlier I can only recommend picking short positions, however, in case of a break above the same zone with a big green candle, I expect price to ascend towards the resistance level 1.1738 or even higher to the key levels 1.1945 and 1.2143.
Trade recommendation
Wait for a correction to the zone 1.1464-1.1450 to sell GBP.
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