Currently, GBP/USD is trading at 1.3821. The price is moving in sideways trend from last 1 week and can consolidate in the same range before breaking resistance and support level. The pair may start a new down trend if it breaks the support level at 1.3740. As the pair was moving in up trend from some time and there is a lot of fule left in the pair to touch its strong resistance level at 1.3955. If the pair starts a new up trend by breaking its resistance level at 1.3836, then its first target price will be at 1.3892 and second target will be at 1.3955.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat