Remain flat | 21 November 2018

21 November 2018, GBP/USD

Remain flat

Technical observation

GBP/USD has been moving on downwards momentum with several retracements at the key resistance line 1.2871-1.2873.From 8pm yesterday to now, price has been consolidating around 1.2782, my expectation is either a correction to 1.2871-1.2873 or a decline to 1.2734 and a breakout below it for downwards movement. In case of a rise to the above mentioned zone and a rejection within it, re-sell GBP within it with your take profit at 1.2734 and stop loss at 1.2916 and should there be a decline to 1.2734 and a breakout below it, wait for a confirmation of further bearish momentum before you sell GBP.

Technical observation

Remain flat.

Do you know against which currencies GBP is the most profitable?

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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