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Remain short with your take profit at 1.2698

Remain short with your take profit at 1.2698 | 04 March 2019

04 March 2019, GBP/USD

Remain short with your take profit at 1.2698

Technical observation

GBP rose steadily to the zone 1.3316-1.3271 but could not penetrate above it and was rejected before moving down, price is still rallying on an increasing bearish momentum and I expect more of this movement for several days to come, if you sold GBP within 1.3316-1.3271, hold on to that position with your take profit at 1.2698 and stop loss at 1.3493, if this take profit is hit and price breaks below it, wait for a correction to the just broken line confirming further bearish momentum before you continue short with this pair towards the support 1.2080.As it is on the chart above only short positions can be recommended.

Trade recommendation

Remain short with your take profit at 1.2698 and stop loss at 1.3493.

Imelda Maseno
Analyst of «FreshForex» company
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