GBPUSD – Flat
Technical observation
GBP is trading with an increasing bullish momentum above the supportive zone it established at 1.1460-1.1427 and as long as it is contained above this zone I expect it to rally further upwards. If you bought GBP within the zone mentioned above after a bounce, remain in the trade with your take profit at 1.1852 and stop-loss at 1.1271. Should there be a clear break above the level 1.1271 with a big green candle, a further surge to the upper side can be expected after a retracement to the broken line and rejection at it, however, if there is a break below the zone 1.1460-1.1427, I expect the value of GBP to plummet towards the level 1.0919.
Trade recommendation
Remain bullish with your take profit at 1.1852.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
