13 Agustus 2019, GBP/USD
Technical Observation
GBPUSD is currently rallying around an untested support zone 1.19530-1.120290. This is a developing key zone and while price remains above it, we're waiting for a clear bounce from it to pick a low risk buy order towards the the turn coat Resistance zone marked 1.24110-1.24870. Should price breakout above this resistance zone, then we'll expect further momentum to the upperside towards the next verified resistance zone marked 1.27170-1.27930. As it is, only a break below 1.19530 will attract a buy.
Trade Recommendations:
Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.