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Remain neutral

Remain neutral | 21 February 2019

21 February 2019, GBP/USD

Remain neutralRemain neutral

Technical observation

On the daily chart above price is rallying between a resistance zone 1.3316-1.3271 and a support 1.2698.GBP is currently moving on bearish momentum but is could still rise to 1.3316-1.3271. In case there’s a decline to 1.2698 and a rejection at it, picking long position may not be advisable as the general trend for this pair is downwards and trading against the trend is not recommendable, You can wait for a breakout below the line and a correction to it to sell GBP with your take profit at 1.2080, should there be a correction to 1.3316-1.3271 instead, wait for a bounce within it to sell GBP with your take profit at 1.2698 and stop loss at 1.3484.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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