Remain flat | 25 June 2020

25 June 2020, GBP/USD

Remain flat

Technical observation

GBP was not contained above the supportive zone 1.2497-1.2479 it recently penetrated with a big green candle. However, yesterday price broke below the same zone and is currently trading with an increasing bullish momentum. This upwards movement is a correction to the just broken zone and my expectation is a loss of this movement within the zone for possible bearish price rally towards the key level 1.2225. My advice, remain neutral with this pair and wait for a correction to the zone 1.2497-1.2479 and a rejection within it to pick short positions with your take profit at 1.2225 and stop loss at 1.2567.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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