Wait | 25 June 2019
25 June 2019, GBP/USD
Technical observation
On the chart above GBP is trading below a resistance zone 1.2763-1.2747 on an increasing bullish bias which is a retracement to the upper side and might go beyond the zone. If price is rejected within the above mentioned zone, sell GBP within it but do not remain in the trade for a long time, however should there be no rejection within 1.2763-1.2747 but a clear penetration above it with a big green candle, wait for a pull back to the just broken zone and a rejection within it before you pick long positions, on your way upwards the key levels to look for include 1.2962 and 1.3177, right now remain neutral and wait.
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.
