GBPUSD – Flat
Technical observation
GBP is pulling back to the resistance zone 1.2609-1.2669 and I expect a possible rejection within it followed by a surge to the lower side. My advice, remain flat and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.3039. If there is a clear break below the level 1.1688, wait for a pullback to the broken line before you continue short with this pair towards the supportive level 1.0363. On the other hand in case of a penetration above the zone 1.2609-1.2669, I expect the price to ascend towards the key levels 1.3610 or higher towards 1.4376.
Trade recommendation
Pick short positions within the zone 1.2609-1.2669 with your take profit at 1.1688.
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