Remain neutral with GBP | 17 April 2020

17 April 2020, GBP/USD

Remain neutral with GBP

Technical observation

GBP is rallying steadily with an increasing bearish bias towards the supportive zone indicated on the chart above around 1.2209-1.2173. My expectation is a rejection of this bearish movement within the zone for possible upwards price rally. Remain flat and wait for a correction to 1.2209-1.2173 and a rejection within it to buy GBP with your take profit at 1.2173 and stop loss at 1.1974. In case there is a rise to the level 1.2746 followed by a clear breakout above it, wait for a retracement to the just broken zone and a bounce within it to confirm further bullish price movements before you continue long with this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.