Technical observation
GBP pulled back to the supportive zone 1.2415-1.2395 for a second time then bounced within it and since then it has been trading with an increasing bullish bias. Today I expect a continuation of this upwards movement and if you are already holding bullish positions, I recommend that you remain in the trade with your take profit at 1.2817 and stop-loss at 1.2317. In case of a clear breach above the level 1.2817, wait for a retracement to this line before you continue long towards 1.3138, if the price declines below the zone 1.2415-1.2395, I expect a plunge towards supportive level 1.2060 or lower.
Trade recommendation
Remain bullish with your take profit at 1.2817.
Origin: FreshForex
