Wait for a correction to 1.2716-1.2698 to re-buy GBP. | 10 January 2019
10 January 2019, GBP/USD
Technical observation
On the 4 hour chart above price went above a resistance zone it established around 1.2716-1.2698 with a big green candle, it then pulled back to the just broken zone but could not penetrate below it and was contained before rising , right now GBP is rallying between the supportive zone 1.2716-1.2698 and a resistance level 1.2886, I expect another correction to 1.2716-1.2698 and a rejection within it to re-sell this pair with my take profit at 1.2889 and stop loss at 1.2617, as long as GBP as contained above 1.2716-1.2698 only long positions look ideal and may be recommended. Remain long after a breakout above 1.2886 and a correction to it.
Trade recommendation
Wait for a correction to 1.2716-1.2698 to re-buy GBP.
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.
