24 января 2019, GBP/USD
Technical observation
GBP corrected itself significantly to the upper side but it is still below the resistance zone 1.3317-1.3271, and as long as this it is contained below this zone only downwards movement of price can be expected. I expect more bullish momentum towards the mentioned zone and a loss of it within the zone for possible bearish momentum towards 1.2709.My advice, remain flat and wait for the correction to 1.3317-1.3271 and a rejection within it to sell GBP with your take profit at 1.2709 and stop loss at 1.3489.In case of a clear breach above 1.3317-1.3271 with a big green candle bullish price rally towards the resistance 1.3751 will be anticipated.
Trade recommendation
Remain flat.
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