GBPUSD is currently rallying around 1.24313. On the Daily Chart , the previous candle closed below the previous 52 Period Exponential Moving Average.
This is a possible Indication that we are in an active Down trend . This trend is supported by the fact that the price is above the previous day's Lowest Low 1.23760
. While we continue to see a sustained move above 1.2376 we expect a surge much Higher with an Ideal Target at 1.24227. At this point, Sell Positions looks ideal and can be recommended with an ideal take profit 1.21744.
copied from freshforex