10 Maret 2020, GBP/USD
Technical observation
Yesterday price rose and closed at the resistance level 1.3208 as I had predicted. If you had previously bought this pair within the supportive zone 1.2770-1.2746, at the level 1.3208 was the ideal place to pick your profits. With the previous candle closing as an indecisive candle, either a correction to the zone 1.2770-1.2746, or a clear breakout above the key level 1.3208 with a big green candle can be anticipated. If you are currently flat, remain so and wait for either of the circumstances mentioned above to trade this pair. On the daily chart above, only long position can be recommended.
Trade recommendation
Remain neutral.