GBPUSD – Flat
Technical observation
GBP is trading with an increasing bearish bias below the resistance zone 1.2669-1.2609 and as long as it is sustained below this zone I expect it to plummet further to the lower side. If you picked short positions within the zone I mentioned earlier, remain bearish with your take profit at 1.1688 and stop-loss at 1.3033, and should the price descend below the level 1.1688, wait for a pullback to the broken line and a bounce at it before you continue short towards the key level 1.0363, on the other hand should there be a break above the zone 1.2669-1.2609, I anticipate possible bullish movements of price towards the level 1.3610.
Trade recommendation
Remain bearish with your take profit at 1.1688.
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