13 Maret 2020, GBP/USD
Technical observation
Yesterday price penetrated below the supportive zone 1.2770-1.2746 with a big red candle and is still stagnating below it. My expectation is a correction to the just broken zone followed by a rebound within it for bearish movements towards the level 1.2357. Remain flat and wait for a retracement to 1.2770-1.2746 and a rejection within it to sell GBP with your take profit at 1.2357 and stop loss at 1.2951. Should there be a penetration below the level 1.2357, further bearish movements towards the line 1.1955 is expected. Only short positions look ideal and can be recommended.
Trade recommendation
Remain flat.