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Remain flat

Remain flat | 04 February 2019

04 February 2019, GBP/USD

Remain flat

Technical observation

On the hourly chart above price is rallying between a resistance zone 1.3144-1.3132 and a support 1.3014, I expect either a decline to the support followed by a rejection at it or a correction to the resistance zone and a rejection within it to re-sell GBP.You can remain flat for now and wait for the correction to 1.3144-1.3132 and a rejection within it to sell this commodity with your take profit at 1.3014 and stop loss at 1.3174 and should there be a decline to 1.3014 and a rejection at it wait for a correction to 1.3144-1.3132 to re-sell GBP.The general trend for the pair on the chart above is bearish and only short positions can be recommended.

Trade recommendation

Remain flat.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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