Wait | 20 November 2018
20 November 2018, GBP/USD
Technical observation
The pair on the hourly chart above retraced at a key resistance zone 1.2871-1.2863 severally before moving down and currently price is rallying below it. I expect either bearish momentum towards 1.2734 or a clear breakout above the zone mentioned above with a big green candle for possible bullish rally towards 1.3036.In case of a rejection within 1.2871-1.2863, pick short positions within it with your take profit at 1.2734 and stop loss slightly above 1.2871 and should there be a clear break above 1.2871, wait for a confirmation of possible bullish momentum of GBP before you pick long positions with your ideal target at 1.3036.
Trade recommendation
Wait for a rejection within 1.2871-1.2863 to sell GBP/USD towads 1.2734.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
