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We're neutral

We're neutral | 25 April 2019

25 April 2019, GBP/USD

We're neutral

Technical observation

GBP rose to the line 1.2960 and was rejected at it before declining to a support 1.2898, currently price is above the line and I expect either another correction to 1.2960 and a bounce at it to re-sell GBP or a clear break below the line 1.2898 followed by a correction to it for bearish price rally. My advice, remain flat and wait for either a correction to 1.2960 and a rejection to re-sell this pair with your take profit at 1.2898 and stop loss at 1.2979 or a penetration below the line 1.2898 and a correction to it to sell GBP. As it is on the hourly chart above, only short positions look ideal and may be recommended.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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