We're neutral | 14 Juni 2019

14 Juni 2019, GBP/USD

We're neutral

Technical observation

GBP is rallying above a supportive level 1.2567 on an increasing bearish momentum and is likely to close that way. I expect a possible penetration below the line with a big red candle followed by a correction to it and a rejection for a surge to the lower side. Remain neutral and wait for a breach below 1.2567 and a pullback to it to sell GBP with your take profit at 1.1543 and stop loss at 1.2992. In case GBP does not break below the line but ascends to 1.3297-1.3188, wait for a rejection within it to pick short positions with your take profit at 1.2567 and stop loss at 1.3722. Only short position can be recommended.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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