We're flat | 14 May 2020

14 May 2020, GBP/USD

We're flat

Technical observation

GBP declined towards the supportive line 1.2160 and is currently trading above it with an increasing bearish momentum. I expect either a clear rejection of this downwards movement at the line for a retracement to the line 1.2286, or, a clear breakout below the line 1.2186 for further bearish price movements. Remain flat and wait for a pullback to the key level 1.2286 and a rejection at it to sell GBP with your take profit at 1.2186 and stop loss at 1.2318. Should there be a clear penetration below the line 1.2186, wait for a correction to it and a rejection confirming further bearish movements before you sell 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.