We're flat | 02 May 2019
02 May 2019, GBP/USD
Technical observation
Just like EUR , GBP is also rising towards a resistance zone it established around 1.3417-1.3301 and I expect a either a bounce within the above mentioned zone for possible bearish rally towards 1.2143 or a clear breach above the zone followed by a retracement to it for upwards rally towards 1.4615.In case of a rejection within 1.3417-1.3301, sell this pair within it with your take profit at 1.2143 and stop loss at 1.3766, but should there be a clear penetration above 1.3417-1.3301 with a big green candle, wait for a correction to the just broken zone and a bounce within it before you buy GBP. Right now remain flat with the pair.
Trade recommendation
Remain flat.
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.
