GBPUSD – Flat
Technical observation
Since it bounced within the resistance zone 1.1689-1.1644 GBP has been rising steadily and currently it is trading with an increasing bullish bias below the level 1.2322. My expectation is a rise to this line followed by a clear break above it or a rejection of price at it. My advice, in case of a penetration above the level 1.2322, wait for a pullback and a bounce at it before you continue long with this pair towards, on the other hand, if price is rejected at the same level, wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 1.2322 and stop-loss at 1.1479. Right now I recommend that you remain neutral.
Trade recommendation
Remain flat.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
