GBPUSD – Flat
On the weekly chart above, GBP/USD broke down below a support zone 1.3831-1.3711 with a big red candle and is currently below it.I expect a correction to the broken zone and a rejection of price within it of a bearish momentum towards the support line 1.3302 and a breakout below it for a further decline in price towards 1.2589,I would advise you sell GBP within 1.3831-1.3711 with your take profit at 1.3302.In case of a breakout below it ,remain short with GBP after a correction to the broken line with your target at 1.2598.Long positions does not look ideal on the chart above and so cannot be recommended.
Short GBP within 1.3831-1.3711 with your take profit at 1.3302 and stop loss around 1.4245.
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