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.
Origin: FreshForex
