13 Febrero 2019, GBP/USD
Technical observation
From yesterday GBP has been retracing towards a resistance zone 1.3060-1.3043,I expect a rise to the zone and a rejection of price within it for downwards movements towards 1.2833 and a possible breakout below it for a further decline in price towards 1.2540.You can remain flat for now and wait for the retracement to 1.3060-1.3043 and a rejection within it to sell GBP with your take profit at 1.2833 and stop loss at 1.3120.In case there’s no correction to 1.3060-1.3043 but a penetration below 1.2833, wait for a pullback to it confirming further bearish price rally before you sell GBP with your take profit at 1.2540 and stop loss at 1.2908.
Trade recommendation
Remain flat.
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