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Remain flat

Remain flat | 13 November 2020

13 November 2020, GBP/USD

Remain flat

Technical observation

GBP is still trading with an increasing bearish momentum below a resistance line 1.3279 it had bounced at. I expect this bearish movement to continue to the supportive zone this pair established at 1.2874-1.2830 followed by a rejection within it for a surge to the upper side. My advice, remain flat with GBP and wait for a retracement to the zone mentioned above and a bounce within it to buy GBP with your take profit at 1.3279 and stop loss at 1.2667.As it is on the chart above, as long as price is contained above the zone 1.2874-1.2830, only bullish positions look ideal can be recommended.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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