Flat | 20 June 2019
20 June 2019, GBP/USD
Technical observation
On the chart above, GBP has been rising steadily towards a resistance zone 1.2758-1.2745 and I expect either a rejection of price within it for bearish rally towards the support 1.2579, or a clear breach above it with a big green candle. Should there be a rejection of price within the above mentioned zone, sell this pair within it with your take profit at 1.2579 and stop loss at 1.2813, however, should there be a clear breakout above the zone with a big green candle wait for a correction to the just broken zone and a rejection within it confirming possible bullish movements of price before you buy GBP.
Trade recommendation
Remain neutral.
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.
