We're flat

15 March 2019, GBP/USD

We're flat

Technical observation

Yesterday GBP went down as predicted, price is still declining and I expect more of this bearish momentum today towards the key supportive level 1.2698 and a possible breakout below it for a further decline in price towards the key line 1.2080. If you sold this pair yesterday within the zone 1.3316-1.3271, remain short with your take profit at 1.2698 and stop loss at 1.3493.Should there be a clear breach above 1.3316-1.3271 with a big green candle, wait for a correction to the just broken zone and a bounce within it confirming possible bullish price rally before you buy GBP with your take profit at 1.3998 and stop loss at 1.3082.

Trade recommendation

Remain short.

Imelda Maseno
Analyst of «FreshForex» company
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