GBPUSD – Flat
Technical observation
Just like EUR, GBP bounced at a resistance level 1.2573 and it is currently trading with an increasing bearish bias, my expectation is a plunge towards the supportive zone 1.2206-1.2186 followed by a rejection within it. My advice, remain flat and wait for a correction to the zone I mentioned above then buy GBP within it with your take profit at 1.2573 and stop-loss at 1.2047. If there is a clear break above level 1.2573, I expect the value of GBP to ascend further after a correction to the broken line, on the other hand in case of a break below zone 1.2206-1.2186; I expect a surge towards the supportive levels 1.1815 or lower.
Trade recommendation
Wait for a correction to the zone 1.2206-1.2186 to buy GBP.
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