GBPUSD – Flat
Technical observation
GBP has been trading with an increasing bearish bias for several days now and today I anticipate the price to plummet even further downwards. If you already sold this pair within the resistance zone 1.2321-1.2304, remain in the trade with your take profit at 1.2013 and stop-loss at 1.2417, should there be clear penetration below the level 1.2013, wait for a correction to the broken line before you continue short with this pair. On the other hand, if the value of GBP ascends above the zone 1.2321-1.2304, I expect the price to ascend towards the resistance levels 1.2791, 1.3133 or higher.
Trade recommendation
Remain bearish with your take profit at 1.2013.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
