Wait for a correction to sell GBP | 08 Abril 2019

08 Abril 2019, GBP/USD

Wait for a correction to sell GBP

Technical observation

Just like EUR, GBP is also trading below a resistance level 1.3301 on an increasing bullish momentum, I expect a loss if this movement at the line for downwards momentum towards the key line 1.2143 and a possible breakout below it for a further decline in price, Wait for a correction to 1.3301 and a rejection at it to sell GBP with your take profit at 1.2143 and stop loss at 1.3700.Should there be a clear break below 1.2143, more bearish price rally can be anticipated. Long positions may only be recommended in case of a clear penetration above 1.3301 with a big green candle followed by a correction to it.

Trade recommendation

Wait for a correction to 1.3301 to sell GBP.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.