GBPUSD – Flat
Technical observation
Just like EUR, GBP is also trading with an increasing bullish bias within a resistance zone price established at 1.1451-1.1444 and this pair could either break above this zone with a big green candle, or bounce within the zone. If there is a break above the zone I mentioned earlier, I expect price to ascend after a pullback to the broken zone followed by a rejection within it and on your way upwards the key levels to look for include, 1.1603 and the resistance zone 1.1738-1.1727, on the other hand, in case of a bounce within the zone 1.1451-1.1444, I expect possible bearish movements of price towards the supportive level 1.1347 or even lower.
Trade recommendation
Sell a bounce within the zone 1.1451-1.1444 with your take profit at 1.1347.
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