04 февраля 2019, GBP/USD
Technical observation
On the hourly chart above price is rallying between a resistance zone 1.3144-1.3132 and a support 1.3014, I expect either a decline to the support followed by a rejection at it or a correction to the resistance zone and a rejection within it to re-sell GBP.You can remain flat for now and wait for the correction to 1.3144-1.3132 and a rejection within it to sell this commodity with your take profit at 1.3014 and stop loss at 1.3174 and should there be a decline to 1.3014 and a rejection at it wait for a correction to 1.3144-1.3132 to re-sell GBP.The general trend for the pair on the chart above is bearish and only short positions can be recommended.
Trade recommendation
Remain flat.
Do you know against which currencies GBP is the most profitable?
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