Currently, GBP/USD is trading at 1.2985. The pair is trading in a resistance and support channel from some time and now broke a small resistance level at 1.2939 to start a new uptrend. It has rebounded after touching the support level and started a new uptrend. Soon pair will touch the first resistance level at 1.3017 and if it breaks that level, then it can touch the second resistance level at 1.3160.

Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.

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Thank you,

Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.