Currently, GBP/USD is trading at 1.2730. The pair started a new up trend on 26th May and after touching the resistance level , the price is consolidating in the resistance and support wedges . It may start a new down trend if it breaks the support level at 1.2634, then its target price will be at 1.2323. If it breaks the resistance level at 1.2739 then the pair may start a new up trend and its target price will be at 1.2965.

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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.