The GBPUSD pair remains trapped under long-term containment at 1.7797. This was also an even area from the previous break down.

The overall bias remains negative and prices are destined to remain subdued unless they can surpass 1.7797.

With global markets volatile, there’s every chance the GBPUSD may retest the key resistance above before stalling back into 1.7200 again.

The trade set-up as outlined above represents a reward on risk ratio of 3:1.

ASR will track this trade as an SMS Support trade – with all important information regarding the trade to be conveyed through SMS updates.

ASR entry only by SMS Alert, but members may enter according to their own discretion based upon the above analysis.

As usual, we will not be risking more than $200 on this trade at our stops.