13 Junio 2019, GBP/USD
Technical observation
GBP retraced to the zone 1.2763-1.2748 but could not break above it, it was rejected at it before rallying downwards and is still trading on an increasing bearish bias. As long as GBP is below 1.2763-1.2748, only short positions look ideal and may be recommended, however should there be a clear breakout above 1.2763-1.2748 followed by a correction and a rejection within it then bullish movements of this pair can be expected. If you went short yesterday within 1.2763-1.2748 remain in the trade but not for long, if you’re not in trade yet, remain flat and wait for either a retracement to 1.2763-1.2748 or a break above it.
Trade recommendation
Remain flat.
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