GBPUSD – Flat
After breaking below the supportive trend line, the cable corrected itself to the upper side but is still below this trend line, but above 1.2492. The level 1.2492 is a key daily support and as long as the price remains above it, we expect a possible bounce from it to pick a possible long term buy. But should price breakout below it, then this will be a good place to pick a long term sell order with an ultimate target at 1.2405. A bounce from 1.2492 will attract a low risk buy towards 1.2765 or even higher.
Conservative traders could wait and sell a breakout below 1.2492 towards 1.2405.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.