Wait for a correction to sell | 24 April 2019

Technical observation

Yesterday price corrected to the zone 1.3012-1.3006 as predicted but could not penetrate above it and was rejected before declining to a key line 1.2943 and breaking below it, right now price is below the line and I expect a correction to it followed by a rejection at it for possible bearish price rally. You can wat for a correction to 1.2943 and a bounce at it to sell GBP with your take profit at 1.2898 and stop loss at 1.2961.Long positions may only be advisable should there be a clear breach above 1.2943 with a big green candle followed by a correction to it and a rejection at it, now only bearish movements of GBP can be expected.

Trade recommendation

Wait for a correction to 1.2943 to sell GBP.