GBPUSD – Flat
The cable pulled back upwards but is still below the weekly Resistance level 1.3296. This pair is still very bullish but unless the price can get back above 1.3296, I choose to remain flat. Our expectations is that the price should break above 1.3296, then a correction to the just broken level to pick a long term long position with an ultimate target at 1.4205. But as long as the price remains below 1.3296, we expect the impulsive wave (c) to extend further to the lower side and may break below 1.2725 towards 1.1960 or even lower.
Only buy the cable above 1.3296
101% Double the volume
All bonus participates in drawdown!
You may check other analytical reviews on FreshForex website. Source: freshforex.com.