GBPUSD – Flat
Technical observation
Just like EUR, GBP also retraced to a zone 1.2401-1.2308 and it was sustained below it. Right now the value of this pair is trading with an increasing bearish bias and I expect a possible further surge to the lower side. If you are currently holding short positions with GBP, I recommend that you remain in the trade with your take profit at 1.0368 and stop-loss at 1.2926. In case of a clear penetration below the level 1.0368, I expect the value of GBP to descend after a pullback to the broken line, on the other, in case of a clear break above the zone 1.2401-1.2308, I expect the price to ascend towards the levels 1.4236 and 1.6725.
Trade recommendation
Remain bearish with your take profit at 1.0368.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
