Wait for a correction to re-sell GBP | 18 April 2019
18 April 2019, GBP/USD
Technical observation
On the hourly chart above, price went down towards 1.3006 as predicted but did not reach it, it is currently retracing to the resistance zone 1.3069-1.3064 and I expect a rejection of it within the zone for bearish price rally towards 1.3006 and a possible break below it for a further decline in value of GBP, my advice, wait for a correction to 1.3069-1.3064 and a rejection within it to re-sell GBP with your take profit at 1.3006 and stop loss at 1.3088, should there be a breakout above 1.3069-1.3064, wait for a correction to the just broken zone and a bounce within it to confirm possible bullish price rally before you pick long positions.
Trade recommendation
Wait for a correction to 1.3069-1.3064 to re-sell GBP with your take profit at 1.3006 and stop loss at 1.3088.
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.
