GBPUSD gains appear to be compromised with the supply zone

Rupak Roy PreferForex

GBPUSD is moving in a bullish bias. It has broken the high of 1.2775 and going up. Now the pair is facing a supply zone at 1.2910-1-3050. The price has tested the area several times and rejected. A Bearish movement is expected targeting 1.2275 followed by 1.2620.

Trading Recommendation:

Sell Limit at 1.2940, stop loss 1.3025

Take profit 1.2830, 1.2710.

Author

Rupak Roy

PreferForex

Founder of PreferForex, a reference website for FX traders For Education and Market Analysis. Roy holds Electronic and Electrical Engineering Degree. He has accumulated 8 years of forex market trading and deep market analysis knowledge.

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