GBPUSD – Flat
Technical observation
GBP is trading slightly below the resistance level 1.2541 and I expect a rise to the same level followed by either a clear break above it or a rejection of price at it. If you are holding bullish positions with the pair above, remain in the trade and pick your profits at 1.2541, in case of a clear break above the same level wait for a correction to it before you continue long with GBP, however if there is a bounce at the level 1.2541, expect the price to retrace to the supportive level 1.2346 to re-buy GBP. On the chat above, as long as the price is sustained above the level 1.2346, only bullish positions look ideal and can be recommended.
Trade recommendation
Remain long with your take profit at 1.2541.
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