We're flat | 02 Mei 2019

02 Mei 2019, GBP/USD

We're flat

Technical observation

Just like EUR , GBP is also rising towards a resistance zone it established around 1.3417-1.3301 and I expect a either a bounce within the above mentioned zone for possible bearish rally towards 1.2143 or a clear breach above the zone followed by a retracement to it for upwards rally towards 1.4615.In case of a rejection within 1.3417-1.3301, sell this pair within it with your take profit at 1.2143 and stop loss at 1.3766, but should there be a clear penetration above 1.3417-1.3301 with a big green candle, wait for a correction to the just broken zone and a bounce within it before you buy GBP. Right now remain flat with the pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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