GBPUSD – Flat
Technical observation
GBP pulled back to the zone it established at 1.2278-.2186 but did not break above it, instead price bounced within the same zone and it is currently trading with an increasing bearish bias, as long as the value of GBP is contained below the zone indicated above, I expect it to surge further to the lower side and in case you picked short positions within the zone 1.2278-1.2186 after a bounce, my advice is, remain short with your take profit at 1.0368 and stop-loss at 1.2740. Should there be a penetration below the level 1.0368 with a big red candle, wait for a correction and a rejection at it before you continue short with this pair.
Trade recommendation
Remain short with your take profit at 1.0368 and stop-loss at 1.2740.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
