CMP = 1370
Price is above 10, 30, 50 SMA.
Very nice setup for going long.
Look to gain profits ranging from 5% to 11% in the short term.
Maintain Stop loss at 1315.
The GBP/USD pair is currently below its daily pivot level.
It has formed a strong bearish engulfing candle in 1-hour time frame.
Hence we expect the pair to move towards its support placed at 1.28722 or even to strong support at 1.27894.