We're flat | 31 May 2019

31 May 2019, GBP/USD

We're flat

Technical observation

Yesterday GBP declined to the line 1.2600 and is still trading around it, I expect a clear breakout below the support followed by a correction and a rejection at it for bearish price rally towards the level 1.2428.Remain flat and wait for a clear breakout below the above mentioned line with a big red candle and a retracement to it to sell GBP with your take profit at 1.2528 and stop loss at 1.2653.Should there be a clear penetration below the level 1.2428 then more bearish momentum of this pair can be anticipated. As it is on the 4 hour chart above, only short positions look ideal and may be recommended for GBP.

Trade recommendation

Remain flat.

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.