15 Juni 2020, GBP/USD
Technical observation
GBP is trading below a resistance zone 1.2781-1.2753 with an increasing bearish momentum. I expect this bearish movement to continue to the supportive zone 1.2215-1.2194 followed by either a bounce within it of a clear penetration below it with a big red candle. If you sold GBP within the zone 1.2781-1.2753 after a bounce, remain short with your take profit at 1.2215 and stop loss at 1.2980. In case there is clear break out below the zone 1.2215-1.2194, wait for a correction to the just broken zone and a rejection within it to confirm further bearish movements of GBP before you continue short towards 1.1768.
Trade recommendation
Remain short with your take profit at 1.2215.