We're flat | 11 June 2019

11 June 2019, GBP/USD

We're flat

Technical observation

GBP is still trading above a supportive level it established around 1.2588 and is currently showing signs of penetrating below the line but while price is still above it a possible correction to the upper side to the resistance zone 1.3498-1.3371 can still be expected, if this happens then you can sell GBP within the zone after a rejection with your take profit at 1.2588 and stop loss at 1.3981, but should there be a clear break below the level 1.2588, wait for a retracement to the just broken line and a rejection at it confirming possible bearish price rally before you sell this pair with your take profit at 1.1522 and stop loss at 1.3037.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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