GBPUSD – Flat
Technical observation
GBP is trading with an increasing bearish bias between the supportive level 1.1307 and a resistance zone 1.4369-1.4251 and today I expect a loss of this bearish movement followed by a pullback to the zone I mentioned earlier. My advice, remain flat and wait for a correction to the 1.4369-1.4251 then sell a bounce within it with your take profit at 1.1307 and stop-loss at 1.5012. If the price descends below the level 1.137, I expect it to plunge towards the level 1.0368 or lower, on the other hand should there be a clear break above the zone 1.4369-1.4251, I expect the value of this pair to ascend towards the key level 1.6752 or higher.
Trade recommendation
Remain neutral.
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