Currently, GBP/USD is trading at 1.2425. The pair started a sideways trend on 17 April and now the price is consolidating in the resistance and support wedges. If the price breaks the resistance level at 1.2512, then it may touch its resistance zone at 1.2909. Although, If the price breaks support level at 1.2218, then it may touch its support zone at 1.1854.
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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.