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Remain short with your take profit at 1.2600

Remain short with your take profit at 1.2600 | 28 May 2019

28 May 2019, GBP/USD

Technical observation

Following the correction of this pair to the resistance line 1.2744 and a rejection at it, GBP has been declining steadily towards a supportive level 1.2600 and I expect more downward movement towards it and a possible break below it. If you sold this pair at 1.2744 after a rejection, hold on to that position with your take profit at 1.2600 and stop loss at 1.2804, in case this take profit is hit you can continue short with GBP with your ideal target at 1.2428.If you are not short yet, wait for a clear breakout below 1.2600 with a big red candle and a correction to it to sell GBP with your take profit at 1.2428 and stop loss at 1.2652.

Trade recommendation

Remain short with your take profit at 1.2600 and stop loss at 1.2804.

Imelda Maseno
Analyst of «FreshForex» company
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