We're short | 23 June 2020

23 June 2020, GBP/USD

Technical observation

GBP pulled back to the zone 1.2497-1.2479 and bounced within it before rallying downwards. My expectation is further bearish momentum to the supportive line 1.2230 followed by a clear breakout below it for further bearish movements of GBP. If you sold GBP within the zone 1.2497-1.2479 after a rejection, remain short with this pair with your take profit at 1.2230 and stop loss at 1.2560. Should price break below the line 1.2230 with a big red candle, wait for pullback to the just broken line and a bounce at it to confirm further bearish movements of price before you continue short with this pair.

Trade recommendation

Remain short.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .