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Remain flat

Remain flat | 10 March 2020

10 March 2020, GBP/USD

Remain flat

Technical observation

Yesterday price rose and closed at the resistance level 1.3208 as I had predicted. If you had previously bought this pair within the supportive zone 1.2770-1.2746, at the level 1.3208 was the ideal place to pick your profits. With the previous candle closing as an indecisive candle, either a correction to the zone 1.2770-1.2746, or a clear breakout above the key level 1.3208 with a big green candle can be anticipated. If you are currently flat, remain so and wait for either of the circumstances mentioned above to trade this pair. On the daily chart above, only long position can be recommended.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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