GBPUSD – Flat
Technical observation
Just like EUR, GBP pulled back to a supportive zone 1.1738-1.1700 but did not break below it, instead it bounced within this zone and since then it has been trading with an increasing bullish bias. Today I expect a continuation of this upwards movement to the resistance level 1.2278 followed by either a clear break above it with a big green candle, or a rejection of price at it. If you bought this pair within the zone indicated above, I recommend that you remain bullish with your take profit at 1.2278 and stop-loss at 1.1440. In case of a break above the level 1.2278, continue long towards the resistance level marked at 1.2652
Trade recommendation
Remain bullish with your take profit at 1.2278.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
