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Sell GBP at 1.3301

Sell GBP at 1.3301 | 05 April 2019

05 April 2019, GBP/USD

Sell GBP at 1.3301

Technical observation

GBP is trading below a key level 1.3301 and my expectation is a bounce at the line for bearish price rally next week towards the supportive level marked at 1.2142, you can place a pending sell limit order at 1.3301 with your take profit at 1.2142 and stop loss at 1.3766 but if you are a bit sceptic to do so, wait for a bounce at the line to sell this pair. Should there be a clear breach above the line 1.3301, wait for a retracement to it confirming possible bullish price movements before you pick long positions with your ideal target at 1.4506.Right now as long as price is contained below 1.3301 only short positions can be recommended.

Trade recommendation

Sell GBP at 1.3301 with your take profit at 1.2142 and stop loss at 1.3766.

Imelda Maseno
Analyst of «FreshForex» company
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