Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/USD is cutting its losses and climbing towards the area of 1.3850.
GBP/USD,D1
Pivot: 1.3883
Analysis:
While the price is below 1.4075, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3883
- Take Profit 1: 1.3670
- Take Profit 2: 1.3500
Alternative scenario:
If the level 1.4075 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4075
- Take Profit 1: 1.4240
- Take Profit 2: 1.4380
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2190 | 1.1845 |
| 1.2095 | 1.1775 |
| 1.2020 | 1.1700 |
