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Wait for a pullback to 1.3428-1.3308 to sell GBP

Wait for a pullback to 1.3428-1.3308 to sell GBP | 15 April 2019

15 April 2019, GBP/USD

Technical observation

GBP is risisng steadily towards a resistance zone 1.3428-1.3308, I expect a rejection of price within this zone for downward movements towards the key level 1.2142, wait for a pullback to 1.3428-1.3308 and a rejection within it to sell GBP with your take profit at 1.2142 and stop loss at 1.3763, more bearish momentum can be expected in case of aclear breach below the level 1.2142.Should there be a no rejection within 1.3428-1.3308 but clear breakout above it with a big green candle, wait for a correction to the broken zone and a rejection within it befor you buy GBP with your take profit 1.4735 and stop loss at 1.2900.

Trade recommendation

Wait for a pullback to 1.3428-1.3308 to sell GBP with your take profit at 1.2142 and stop loss at 1.3763.

Imelda Maseno
Analyst of «FreshForex» company
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