GBPUSD – Flat
Technical observation
GBP is trading with an increasing bullish bias slightly below the resistance zone 1.2669-1.2609 and I expect a continuation of this upwards movement to the same zone followed by a possible rejection within it. My advice, remain flat and wait for a pullback to the zone I have mentioned above then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.3029. In case of a break below the level 1.1688, I expect the price to plummet further towards the key level 1.0363 after a pullback to the broken line and a bounce at it. On the chart above, I can only recommend bullish positions above the zone 1.2669-1.2609.
Trade recommendation
Sell GBP within the zone 1.2669-1.2609 with your take profit at 1.1688.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
