Remain flat | 24 January 2019
24 January 2019, GBP/USD
Technical observation
GBP corrected itself significantly to the upper side but it is still below the resistance zone 1.3317-1.3271, and as long as this it is contained below this zone only downwards movement of price can be expected. I expect more bullish momentum towards the mentioned zone and a loss of it within the zone for possible bearish momentum towards 1.2709.My advice, remain flat and wait for the correction to 1.3317-1.3271 and a rejection within it to sell GBP with your take profit at 1.2709 and stop loss at 1.3489.In case of a clear breach above 1.3317-1.3271 with a big green candle bullish price rally towards the resistance 1.3751 will be anticipated.
Trade recommendation
Remain flat.
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.
