14 June 2019, GBP/USD
Technical observation
GBP is rallying above a supportive level 1.2567 on an increasing bearish momentum and is likely to close that way. I expect a possible penetration below the line with a big red candle followed by a correction to it and a rejection for a surge to the lower side. Remain neutral and wait for a breach below 1.2567 and a pullback to it to sell GBP with your take profit at 1.1543 and stop loss at 1.2992. In case GBP does not break below the line but ascends to 1.3297-1.3188, wait for a rejection within it to pick short positions with your take profit at 1.2567 and stop loss at 1.3722. Only short position can be recommended.
Trade recommendation
Remain neutral.
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