Great British Pound(GBP)
The British pound last Friday progressed the upside wave as a result of the bullish base that the pound has established at the levels of 1.9770s in the form of rounding bottom. This move affected the technical indicators to show the upside targets at 2.0205 and then if breached at 2.0270s in the week ahead.
The trading range for today might be between the key resistance level at 2.0200 and the key support level at 1.9900.
The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.
Recommendation
We expect buying sterling above 2.0140 with a target at 2.0192, stop loss below 2.0100
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