Buy GBP within 1.3027-1.3013

09 November 2018, GBP/USD

Technical observation

GBP/USD is declining steadily towards the key supportive zone 1.3027-1.3013 and I expect nothing but a rejection within it followed by bullish momentum towards 1.3243, I’m looking to long this pair within 1.3027-1.3013 with my take profit at 1.3243 and stop loss slightly below 1.3013.In case of a clear break above 1.3243, wait for a correction to the just broken line to confirm possible further bullish momentum of price before you continue long with this pair. Should there be a clear breach below 1.3027-1.3013 with a big red candle, wait for a retracement to it before you pick short positions towards the support 1.2910.

Trade recommendation

Pick long positions within 1.3027-1.3013 towards 1.3243.

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Imelda Maseno
Analyst of «FreshForex» company
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