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Remain flat temporarily.

Remain flat temporarily. | 22 November 2018

22 November 2018, GBP/USD

Remain flat temporarily.

Technical observation

GBP/USD is rallying around a key support line 1.2696 and I expect either a rejection at I followed by a rise to 1.3301-1.3268 or a clear breakout below it followed by a correction for downwards movement of price. Should there be a rejection at 1.2696 followed by a correction to 1.3301-1.3268, wait for a rejection within it to re-sell GBP and in case there is no rejection within it but a penetration above it, wait for a correction to it confirming possible bullish movements before you pick long positions. My advice, remain flat temporarily and wait for either a rejection at 1.2696 or a break below it and a correction to it to sell GBP.

Trade recommendation

Remain flat temporarily.

Do you know against which currencies GBP is the most profitable?

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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