GBPUSD – Flat
Technical observation
Just like EUR, GBP is also trading with an increasing bullish bias above a supportive zone 1.2278-1.2186 and I expect a loss of this upwards movement followed by a correction to the zone indicated above. My advice, remain flat and wait for a pullback to the zone 1.2278-1.2186 to pick bullish positions with your take profit at 1.4236 and stop-loss at 1.1708. If there is a clear break above the level 1.4236 with a big green candle, I expect the value of this pair to ascend further towards the key level 1.6725, as it is on the chart above, as long as price is sustained above the zone I mentioned earlier I can only recommend bullish positions.
Trade recommendation
Remain flat.
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