Remain flat | 04 April 2019

04 April 2019, GBP/USD

Remain flat

Technical observation

GBP is still rising towards the zone marked at 1.3239-1.3224 and my expectation is either a clear bounce within the zone or a clear breakout above it. In case price is rejected within the zone, bearish movements of GBP towards the key line 1.2970 can be expected, however should the value of GBP rise above 1.3239-1.3224, bullish price rally can be anticipated. Remain flat for now and wait for either a rejection within 1.3239-1.3224 to sell GBP with your take profit at 1.2970 and stop loss at 1.3285; or a clear breakout above the zone with a big green candle followed by a retracement and a rejection within it to buy GBP.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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