GBPUSD – Flat
GBP/USD is on downward trend, price is rallying down towards 1.2716 and I expect a rejection at it followed by a correction to the key resistance zone 1.3528-1.3406 and a rejection within it for possible bearish momentum towards 1.2716.In case of a breakout below 1.2716,wait for a correction to it before you continue short with the pair towards the support 1.1996.Long positions may only be advisable in case there’s a clear breach above the zone 1.3528-1.3406 with a big green candle followed by a retracement to it.Only short positions can be recommended on the weekly chart above.
Wait for a correction to 1.3528-1.3406 to short GBP/USD.
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