We're flat temporarily | 27 February 2020
27 February 2020, GBP/USD
Technical observation
GBP has been retracing towards a supportive zone it established around 1.2900-1.2864, currently price is trading above this zone and i expect a decline followed by a rejection within it for possible bullish movements towards the key level 1.3313. Remain flat temporarily and wait for a bounce within the zone 1.2900-1.2864 to buy GBP with your take profit at 1.3313 and stop loss at 1.2735. In case this take profit is reached and there is a clear rise above it then further bullish momentum can be anticipated. On the daily chart above, short positions may only be recommended below 1.2900-1.2864 towards 1.2517.
Trade recommendation
Remain flat temporarily.
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.
