GBPUSD – Flat
Technical observation
Just like EUR, GBP is trading with an increasing bullish momentum above the supportive zone 1.1690-1.1623 and I expect either a continuation of this upwards movement to the level 1.2650 or a loss of it followed by a correction to the zone indicated above. If there is a rally to the level 1.2650, wait for a rejection of price at it followed by a pullback to the zone 1.1690-1.1623 to buy GBP with your take profit at 1.2650 and stop-loss at 1.1316. Should there be a clear break above the level 1.2650, I recommend that you wait for a pullback and a rejection of price at it before you continue long with this pair towards the level 1.3610.
Trade recommendation
Wait for a correction to the zone 1.1690-1.1623 to buy GBP.
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