GBPUSD – Flat
Technical observation
Just like EUR, the value of GBP is trading with an increasing bearish bias between a supportive level 1.1688 and a resistance zone 1.2635-1.2589 and today I expect it to plummet even further to the lower side. If you sold this pair within the zone I have indicated above, I recommend that you remain in the trade with your take profit at 1.1688 and stop-loss at 1.2888, in case the value of GBP declines below the level 1.1688 with a big red candle, wait for a retracement to the broken line and a bounce at it before you continue short towards the levels 1.0363 or lower.
Trade recommendation
We are short with take profit at 1.1688.
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