GBPUSD – Flat
Technical observation
The value of the pair on the weekly chart above is trading with an increasing bullish bias above the level 1.2159 and I expect it to close the same. This upwards movement is a pullback to the resistance zone 1.3401-1.3338 and I anticipate a further surge to the same zone followed by a bounce within it to pick short positions. My advice, remain flat and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 1.2159 and stop-loss at 1.3751. As it is on the weekly chart above, I can only recommend bullish positions in case of a clear breakout above the resistance zone 1.3401-1.3338.
Trade recommendation
Wait for a correction to the zone 1.3401-1.3338 to sell GBP.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
