Remain neutral | 25 February 2019

25 February 2019, GBP/USD

Remain neutral

Technical observation

GBP has been trading between the resistance zone 1.3316-1.3271 and a support 1.2698,I expect price to correct itself to the upper side towards 1.3316-1.3271 followed by a rejection within it for bearish price rally towards 1.2698, you can remain neutral for now and wait for the pullback to 1.3316-1.3271 to sell GBP with your take profit at 1.2698 and stop loss at 1.3489.In case of a breakout above 1.3316-1.3271 wait for a correction to the just broken zone and a rejection within it to confirm possible upward rally before you pick long positions with your take profit at the resistance line 1.3998 and stop loss at 1.3063.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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