We're short towards 1.1990. | 08 March 2019

Technical observation

Just like EUR, GBP was rejected within a resistance zone 1.3439-1.3308 resulting to bearish price momentum towards 1.1990. More of this movement can be anticipated next week and several weeks to come, if you sold GBP within 1.3439-1.3308 hold on to that position with your take profit at 1.1990 and stop loss at 1.3929, if you are not in a trade yet, you can still sell GBP after the current candle closes with your take profit at 1.1990.As long as GBP is contained below 1.3439-1.3308, only short positions look ideal and may be advisable, long positions may only be recommended above 1.3439-1.3308 towards 1.4615.

Trade recommendation

Remain short with your take profit at 1.1990 and stop loss at 1.3929.