Sell a bounce within 1.3006-1.2970 | 08 Octubre 2020

08 Octubre 2020, GBP/USD

Technical observation

GBP is trading below a resistance zone 1.3006-1.2970 with an increasing bullish momentum; however, I expect a loss of this bullish movement within the same zone for possible bearish movements of this pair. My advice, wait for a bounce within the zone 1.3006-1.2970 to sell GBP with your take profit at 1.2626 and stop loss at 1.3170. In case there is a penetration below the line 1.2626 with a big red candle, wait for a correction to it and a bounce confirming further bearish movements of price before you continue short with this pair towards the supportive zone marked at 1.2226-1.2194.

Trade recommendation

Wait for a bounce to sell GBP.

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.