Currently, GBP/USD is trading at 1.2596. The pair started a new up trend on 26th May and now after touching its resistance zone , it is hovering in the same zone. If it breaks the support level at 1.2495 it may start a new down trend, then its first target price will be at 1.2331 and the second will be at 1.2230.

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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.