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Remain flat temporarily.

Remain flat temporarily. | 28 March 2019

28 March 2019, GBP/USD

Remain flat temporarily.

Technical observation

GBP is trading below a resistance zone 1.3316-1.3271 and as long as it is contained below it only bearish momentum of this pair can be anticipated. Price is currently pulling back to the above mentioned zone and I expect a bounce within it for downwards movement towards 1.2698, my advice, remain flat temporarily and wait for the rise to 1.3316-1.3271 and a rejection within it to sell GBP but not for long .Should there be no rejection within 1.3316-1.3271 but a clear breakout above it, wait for a correction to the just broken zone and a rejection within before you pick long positions towards the key line 1.3998.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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