GBPUSD – Flat
Technical observation
GBP is pulling back to the supportive zone it established at 1.1690-1.1623 and my expectation is a rejection of price within this zone or a clear break below it with a big red candle. In case of a bounce within the zone I have mentioned above, pick bullish positions within it with your take profit at 1.2650 and stop-loss at 1.1274 and should there be a clear break below the same, you can expect the value of this pair to plummet towards the supportive level 1.0364 after a correction and rejection within the broken zone. Right now as it is on the daily chart above, remaining flat is ideal than picking any positions.
Trade recommendation
Remain flat.
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