We're flat | 02 April 2020

Technical observation

GBP is still trading around the level 1.2408 and I still expect a decline to the supportive zone 1.2059-1.2027. With this pair, remaining neutral right now is more ideal than entering a trade. My advice, wait for a correction to the supportive level 1.2059-1.2027 and a bounce within it to buy GBP with your take profit at 1.2746 and stop loss at 1.1776. Should there be a clear breakout above the resistance zone 1.2770-1.2746 with big green candle, wait for a retracement to the just broken zone and a bounce within it to continue long with this pair with your take profit at the resistance line 1.3312.

Trade recommendation

Remain neutral