we're bearish towards 1.2945 | 29 Oktober 2020

29 Oktober 2020, GBP/USD

we're bearish towards 1.2945

Technical observation

GBP retraced to a resistance zone 1.3019-1.3012 but could not break above it; price bounced within the zone and is currently trading with an increasing bearish bias below it. I expect this bearish movement to continue to the supportive zone 1.2945-1.2937 followed by a clear breach below it with a big red candle. My advice, if you sold GBP within the resistance zone mentioned above after a bounce, hold on to that position with your take profit at 1.2945 and stop loss at 1.3038. In case of a break below 1.2945-1.2937, you can anticipate the value of this pair to plummet further towards the key level 1.2863.

Trade recommendation

Remain short with your take profit at 1.2945.

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.