Remain flat | 21 November 2018
21 November 2018, GBP/USD
Technical observation
GBP/USD has been moving on downwards momentum with several retracements at the key resistance line 1.2871-1.2873.From 8pm yesterday to now, price has been consolidating around 1.2782, my expectation is either a correction to 1.2871-1.2873 or a decline to 1.2734 and a breakout below it for downwards movement. In case of a rise to the above mentioned zone and a rejection within it, re-sell GBP within it with your take profit at 1.2734 and stop loss at 1.2916 and should there be a decline to 1.2734 and a breakout below it, wait for a confirmation of further bearish momentum before you sell GBP.
Technical observation
Remain flat.
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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.
