GBPUSD – Flat
Technical observation
GBP broke below a line a shown above then pulled back to it and it was sustained below the line, right now the price is trading with an increasing bearish bias and as long as it is sustained below the level indicated above I expect a further surge to the lower side. My advice, if you are currently holding short positions remain in the trade with your take profit at 1.2197 and stop-loss at 1.2483, in case of a break below the zone 1.2197-1.2188, I expect the price to plummet further towards the supportive levels 1.2009 and 1.1815, on the contrary, I expect a surge to the upper side in case of a break above the level 1.2541.
Trade recommendation
Remain short with your take profit your profit at 1.2197.
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