23 Abril 2019, GBP/USD
Technical observation
On the hourly chart above, GBP is trading below a line 1.3006 on an increasing bearish momentum, my expectation is a pullback to the line followed by a bounce at it for a surge to the lower side, remain neutral and wait for a correction to 1.3006 and a rejection at it to sell GBP with your take profit at 1.2898 and stop loss at 1.3021.Should there be a penetration above 1.3006 with a big green candle, wait for a possible retracement to the just broken line and a rejection at it to pick long position with your take profit at 1.3064 and stop loss at 1.2990.Right now only short positions look ideal and may be advisable.
Trade recommendation
Remain neutral.
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