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We're short

We're short | 23 June 2020

23 June 2020, GBP/USD

Technical observation

GBP pulled back to the zone 1.2497-1.2479 and bounced within it before rallying downwards. My expectation is further bearish momentum to the supportive line 1.2230 followed by a clear breakout below it for further bearish movements of GBP. If you sold GBP within the zone 1.2497-1.2479 after a rejection, remain short with this pair with your take profit at 1.2230 and stop loss at 1.2560. Should price break below the line 1.2230 with a big red candle, wait for pullback to the just broken line and a bounce at it to confirm further bearish movements of price before you continue short with this pair.

Trade recommendation

Remain short.

Imelda Maseno
Analyst of «FreshForex» company
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