08 May 2019, GBP/USD
Technical observation
GBP is trading between a resistance zone 1.3183-1.3172 and a support 1.3013, I expect either a correction to the above mentioned zone followed by a rejection within it or a decline to line 1.3013 and a breakout below it. In case of a rise to 1.3183-1.3172, wait for a bounce within it to sell GBP with your take profit at 1.3013 and stop loss at 1.3218, should there be no correction to 1.3183-1.3172 but a breach below 1.3013, wait for a retracement to the just broken line and a bounce at it to sell GBP with your take profit at 1.2882 and stop loss at 1.3050.Only short positions can be recommended on the chart above.
Trade recommendation
Remain flat.
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