12 июня 2019, GBP/USD
Technical observation
GBP has been trading below a zone it established around 1.2763-1.2748 and currently price is rallying below it on an increasing bearish momentum My expectation is either a decline to the lower side or a rise to the above mentioned zone followed by a clear penetration above it. In case there’s a penetration above the zone, wait for a correction to the just broken zone and a bounce within it confirming possible bullish price rally before you pick long positions but as long as GBP is contained below the zone only bearish movements of price can be anticipated. Right now remain flat and wait for a correction to 1.2763-1.2748.
Trade recommendation
Remain flat.
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