19 November 2018, GBP/USD
Technical observation
GBP/USD is rallying around a support 1.2829-1.2731 and I expect nothing but a rejection of it within the zone followed by a rise towards the upper resistance zone 1.4604-1.4506 and a possible breakout above it with a big green candle for a further rise in price towards the highest key resistance line 1.5277, my advice, buy GBP at 1.2829-1.2731 after a bounce within it with your take profit at 1.4604 and stop loss slightly below 1.2731.Should there be a clear breakout below 1.2731 wait for a pullback to the just broken zone confirming possible bearish momentum of price before you short positions with your target at 1.1522.
Trade recommendation
Buy GBP within 1.2829-1.2731 with your take profit at 1.4604 and stop loss slightly below 1.2731.
Do you know against which currencies GBP is the most profitable?
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