GBPUSD looking to take retrace towards 1.4800 level

GBPUSD (1.4920)

GBPUSD is looking to take a dip below 1.4800 level at the moment and traders will be looking to sell GBPUSD for anything above 1.5000 level. GBPUSD might look to resume its upward trend from 1.4800 level and therefore traders will look to reverse their positions by buying around 1.4800 level. RSI is also in the middle and will support market movement in both direction and thus don’t give any indication of direction. Use of small stop might also come handy.

  

TRADE:

Sell GBPUSD @ 1.5015 for Profit Level @ 1.4800 with Stop @ 1.5065