GBPUSD – Flat
Technical observation
GBP broke below the zone it established at 1.2635-1.2571 then pulled back to it and since then it has been trading with an increasing bearish bias, however, I recommend that you wait for a second correction to the zone I have mentioned above to sell GBP with your take profit at 1.1688 and stop-loss at 1.2816. If the price declines below the level 1.1688, I expect the value of GBP to plummet further towards the supportive level 1.0363 or lower, on the other hand if the price rises above the zone 1.2635-1.2571, I anticipate possible upwards movements towards the resistance levels 1.3610 and 1.4376 or higher.
Trade recommendation
Wait for a correction to the zone 1.2635-1.2571 to sell GBP.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
