Flat | 20 Juni 2019

20 Juni 2019, GBP/USD

Flat

Technical observation

On the chart above, GBP has been rising steadily towards a resistance zone 1.2758-1.2745 and I expect either a rejection of price within it for bearish rally towards the support 1.2579, or a clear breach above it with a big green candle. Should there be a rejection of price within the above mentioned zone, sell this pair within it with your take profit at 1.2579 and stop loss at 1.2813, however, should there be a clear breakout above the zone with a big green candle wait for a correction to the just broken zone and a rejection within it confirming possible bullish movements of price before you buy GBP.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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