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Sell GBP at 1.1955

Sell GBP at 1.1955 | 19 March 2020

19 March 2020, GBP/USD

Technical observation

Bears have been dominating this market for several days and there are no signs of possible bullish movements. Yesterday GBP declined with a big red candle breaking below a supportive level 1.1955 and today a correction to the broken level followed by a rebound at it can be expected. Should price retrace to the resistance 1.1955, wait for a bounce at it to sell GBP with your take profit at 1.1528 and stop loss at 1.2131, and should there be no rise to the level mentioned above but a clear breakout below the support 1.1528 with a big red candle, further bearish momentum of this pair can be anticipated.

Trade recommendation

Sell GBP at 1.1955 with your take profit at 1.1528.

Imelda Maseno
Analyst of «FreshForex» company
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