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GBPUSD Outlook 28 Dec, 2016 | December 28, 2016



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GBPUSD is now on ranging zone within 50-60 pips. So we need to wait for breakout of this range zone to get new trend. This pair is facing support at 1.2230 level. On the upper side, 1.2300 level is resistance for this pair. If we can get breakout on the upper side, then we need big bullish candle for buy signal. Stop loss will be below 1.2230 level and target will be 100-150 pips.


On the other side, if this pair can break 1.2230 level, then we should go for sell for big target. We may target 1.2000 level for long term. So now we need to observe this pair and wait for successful breakout


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