Forex Technical Analysis: Trend potential – Pick long positions within 1.3027-1.3015

GBPUSD – Flat

Pick long positions within 1.3027-1.3015

Technical observation

Price is still correcting to the key supportive zone 1.3027-1.3015 and I expect a bounce within it for possible bullish momentum towards the resistance line 1.3243 and a possible breach above it for a further rise in price. I’m looking to buy GBP within 1.3027-1.3015 with my take profit at 1.3243 and stop loss slightly below 1.3015.In case of a break above 1.3243, wait for a correction to it confirming further bullish movement of price before you continue long with this pair. As long as price is contained above 1.3027-1.3015 only long positions can be advisable. Short positions may only be recommended below 1.3027-1.3015 towards 1.2910.

Trade recommendation

Buy GBP within 1.3027-1.3015 with your take profit at 1.3243 and stop loss slightly below 1.3015.

Do you know against which currencies GBP is the most profitable?

Pick long positions within 1.3027-1.3015

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