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Wait for a correction to 1.3417-1.3301 to sell GBP.

Wait for a correction to 1.3417-1.3301 to sell GBP. | 19 April 2019

19 April 2019, GBP/USD

Wait for a correction to 1.3417-1.3301 to sell GBP.

Technical observation

Just like EUR , this pair also declined in value instead of correcting to the resistance zone 1.3417-1.3301, I expect a loss of this bearish price rally this week followed by a pullback to the above mentioned zone next week and a rejection within it for a possible surge to the lower side towards the line 1.2143, my advice, wait for a correction to 1.3417-1.3301 and a rejection within it to sell GBP with your take profit at 1.2143 and stop loss at 1.3770.On the hourly chart you can wait for a correction to the resistance zone 1.3069-1.3064and a bunce within it to sell GBP .On the chart above only short positions can be advisable.

Trade recommendation

Wait for a correction to 1.3417-1.3301 to sell GBP.

Imelda Maseno
Analyst of «FreshForex» company
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