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Wait | 21 June 2019

21 June 2019, GBP/USD

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Technical observation

On the chart above price is trading below a zone 1.2758-1.2745 on an increasing bullish momentum and I expect either a loss of this movement within it for possible bearish movements of price, or a clear breakout above the zone with a big green candle and a retracement to it for bullish price rally towards the line 1.2914, In case of a bounce within 1.2758-1.2745, you can pick short positions within it but not for long, however, should there be no rejection within the zone but a clear penetration above it, wait for a pullback to the zone and a bounce within it to buy GBP with your take profit at 1.2914 and stop loss at 1.2676.

Trade recommendation

Remain neutral and wait.

Imelda Maseno
Analyst of «FreshForex» company
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