Sell GBP within 1.3237-1.3222 | 27 March 2019

Technical observation

GBP established a resistance zone around 1.3237-1.3222 and is still pretty much below this level, as long as this pair is contained below this zone we expect nothing but a possible momentum to the lower side. Yesterday, this pair did not rally to the line 1.2970 as predicted but instead went down for a few hours before retracing to the zone 1.3237-1.3222.Currenlty price is trading below the above stated zone on an increasing bullish momentum and I expect a loss of this movement within it to for bearish price rally towards 1.2970.On your way downwards the key lines to look for include; 1.2970, 1.2704 and 1.2484.

Trade recommendation

Sell GBP within 1.3237-1.3222 with your take profit at 1.2970 and stop loss at 1.3270.