GBPUSD
- As I have mentioned in my last GBPUSD - WEEKLY ANALYSIS, it's looking bearish on bigger time frame. For now it's in a range of over sold zone so the levels are more important at this point of time.
Approach should be still a short with STOP LOSS of 1.28650,
In the downside break of 1.27500 decisively will drag it further down to 1.25900 to 1.22600
For now I advise you to take a small quantity short sell position near to the current price and increase your lot size once it breaks 1.27500, and do keep trailing your stop loss to secure your profit.
If stop triggers and GBPUSD sustains close to 1.28700, there can be a small bounce back to 1.30100 to 1.31250.
Follow the levels carefully and do maintain a proper risk reward.
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