We're neutral | 13 Februari 2020

13 Februari 2020, GBP/USD

We're neutral

Technical observation

GBP is trading between two different zones a resistance 1.3283-1.3259, and a supportive zone 1.2770-1.2740. I expect either a rise to the resistance followed by a rejection within it for bearish movement of price or a decline to the supportive zone followed by a clear penetration below it. In case of a breakout below the zone 1.2770-1.2740, wait for a pullback to it before you sell GBP. Right now remain flat and wait for either of the above-mentioned circumstances to trade GBP. On your way downwards, the lines to look for are 1.2543 and 1.1955. Long positions may only be recommended above 1.3283-1.3259.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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