With the resistance in place for GBPUSD, 1.3975 is an interesting level which will be tested by bulls to break and try to takeover the elusive 1.4000 psychological level.
However, the bears can have the upper hand and drive the price back to 1.38 area.
With the price now around 1.3925, our bias is to stay short GBPUSD and catch 75 to 100 pips.
However, the bears can have the upper hand and drive the price back to 1.38 area.
With the price now around 1.3925, our bias is to stay short GBPUSD and catch 75 to 100 pips.
Trade closed: target reached:
75 pips target reached
We need to watch 1.3935 to 1.3950 being a range point.