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Remain flat

Remain flat | 12 February 2019

12 February 2019, GBP/USD

Remain flat

Technical observation

GBP is trading around a support level 1.2833,I expect either a pullback to the zone 1.3060-1.304 or a clear breakout below 1.2833.In case of a retracement to 1.3060-1.3043 wait for a rejection within to sell GBP with your take profit at 1.2833 and stop loss at 1.3120 but should there be a breach below 1.2833, wait for a correction to the just broken key level and a rejection at it to confirm further bearish momentum before you sell this pair with your take profit at 1.2540 and stop loss at 1.2910.As long as GBP is contained below 1.3060-1.3043 only short positions can be advisable , long positions may only be advisable above the zone.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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