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Flat

Flat | 25 March 2020

25 March 2020, GBP/USD

Flat

Technical observation

GBP is retracing towards a resistance level 1.2059 and i expect a rejection at it for bearish movements towards the zone around 1.1528-1.1463. Remain flat and wait for a correction to the above-mentioned line followed by a bounce at it to pick short positions with this pair with your take profit at 1.1528 and stop loss at 1.2275. In case of a penetration above the line 1.2059 with a big red candle, wait for a correction to it and a rejection confirming possible bullish price movements before you pick long positions with your take profit at the line 1.2746 and stop loss at 1.1800. Right now remain flat.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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