We're flat | 20 December 2018

Technical observation

This weeks candle is still rallying on an increasing bullish momentum towards a resistance zone 1.3450-1.3308 and as the end of the week is appproaching , I expect a close below the above mentioned zone and possible bullish or bearish price rally next week.For the pair on the chart above I am neutral and I am holding on to this position waiting for either a correction to 1.3450-1.3308 and a bounce within it to sell GBP or a decline to 1.2001 followed by breakout below it and a correction to it to pick short position. The pair on the chart above is on a downwards momentum and so only short positions may be recommended.

Trade recommendation

Remain flat.

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