GBPUSD – Flat
Technical observation
GBP is trading with an increasing bullish bias below the resistance zone 1.1460-1.1427 and I expect a continuation of this upwards movement to the same zone followed by a rejection of price within it. As it is on the chart above, I would recommend that you remain neutral temporarily then sell a bounce within the zone indicated above with your take profit at 1.064 and stop-loss at 1.1715. In case GBP is not sustained below the zone I mentioned earlier but clearly breaks above it with a big green candle, wait for a correction to the broken zone and a bounce within it before you pick long positions towards the key level 1.1901.
Trade recommendation
Remain neutral temporarily.
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