GBPUSD – Flat
Technical observation
On the chart above the price pulled back to the resistance zone 1.2145-1.2135 but did not break above it, instead it was rejected within the same zone and currently the value of this pair is trading with an increasing bearish bias and as long as it is sustained below this zone, I expect it to decline further. If you sold this pair within the zone I have mentioned above, I recommend that you remain in the trade with your take profit at 1.1915 and stop-loss at 1.2220. If there is a clear break below the level 1.1915, wait for a correction to it before you continue short, possible bullish movements can be expected in case of a break above the zone 1.2145-1.2135.
Trade recommendation
Remain short with your take profit at 1.1915.
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