We're flat | 11 April 2019

Technical observation

GBP is rallying between a supportive zone 1.2985-1.2970 and a resistance key level 1.3224, my expectation is either a decline to the zone followed by either a bounce at it or a clear breach below it; or a rise to 1.3224 followed by a clear breakout below it. In case of a decline to 1.2985-1.2970 and a rejection within it, you can buy GBP within it with your take profit at 1.3224 and stop loss at 1.2899, and in case of a rise to 1.3224 followed by a break above it you can buy this pair at it after a correction to the just broken line. Short positions may only be advisable in case of a clear breakout below 1.2985-1.2970 and a pullback to it.

Trade recommendation

Remain neutral