GBPUSD – Flat
Technical observation
GBP is pulling back to the resistance zone 1.2598-1.2658 and I expect either a rejection of price within it or a clear break above it with a big green candle. If there is a bounce within the zone, pick short positions within it with your take profit at 1.1688 and stop-loss at 1.2989, and should there be a clear penetration above the same zone, I recommend you wait for a correction and a bounce at it before you pick bullish positions towards the resistance levels 1.3610 and 1.4376 or higher. A further surge towards the key level 1.0363 can be expected in case of a clear break below the supportive level 1.1688 with a big red candle.
Trade recommendation
Sell a bounce within the zone 1.2598-1.2658 with your take profit at 1.1688.
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