GBPUSD – Flat
Perfectly as previously forecasted, the cable bounced from the zone 1.2593-1.2700, declined steeply and even went below the supportive trendline. As long as the price remains below this trendline and also below the weekly level 1.2709, we expect nothing but a steep decline with an ideal target around 1.2490. If you’re looking at this chart at the moment, you should already be in a sell position, or you should place a pending sell limit order at 1.2708, and have your take profit at 1.2490, if this target is broken, then further bearish momentum is expected.
Remain short with your take profit at 1.2708.
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You may check other analytical reviews on FreshForex website. Source: freshforex.com.