Wait for a correction to 1.3317-1.3271 to sell GBP. | 28 January 2019

28 January 2019, GBP/USD

Wait for a correction to 1.3317-1.3271 to sell GBP.

Technical observation

GBP/USD is rallying below a resistance zone 1.3317-1.3271 and as long as it is contained below it only bearish price momentum can be expected. I am waiting for a correction to the above mentioned zone followed by a bounce within it to sell GBP with my take profit at 1.2706 and stop loss at 1.3579.In case of a breach below 1.2706 then more bearish price rally will be expected towards 1.2427 or even lower. Should there be a clear penetration above 1.3317-1.3271 with a big green candle then bullish momentum of this pair can be anticipated towards the key resistance level 1.3751, or even higher to the resistance level 1.4344.

Trade recommendation

Wait for a correction to 1.3317-1.3271 to sell GBP.

BECOME FRESHFOREX ANALYST!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .