21 Enero 2019, GBP/USD
Technical observation
On the daily chart above price went above a resistance level 1.2886 with a big green candle before rising steadily, it then declined towards the just broken key level but could not be contained above it, price then broke below the level and is still declining, my expectation is a correction to the line and a rejection at it for possible bearish price rally towards the key supportive zone 1.2716-1.2698 and a possible breakout below it for a further decline on price towards the support level marked at 1.2475.Right now I would advise you remain flat and wait for a pull back to 1.2886 and a rejection at it to sell GBP with your take profit at 1.2716 and stop loss at 1.2929.
Trade recommendation
Remain flat.
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