Still short towards 1.2746 | 28 February 2020

28 February 2020, GBP/USD

Still short towards 1.2746

Technical observation

GBP has been declining steadily towards a supportive zone 1.2785-1.2746, a loss of this bearish momentum can be expected within the zone followed by a either a clear decline below or a rejection within it. If you sold this pair at the key level 1.3334, pick your profits at 1.2746, however, if you are not in a trade yet, wait for either a rejection within 1.2785-1.2746 or a penetration below it. In case of a bounce within the zone, wait for a correction to 1.3334 to sell GBP and should there be a clear breakout below the zone with a big red candle, wait for a correction to the just broken zone to sell GBP.

Trade recommendation

Remain short with your take profit at 1.2746.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .