11 февраля 2020, GBP/USD
Technical observation
On the weekly chart above price is trading between a resistance zone 1.3341-1.3289 and a supportive level 1.2553. Price could either a rise to the above mentioned zone followed by either a rejection within it or, a penetration above it with a big green candle, or; decline to the support 1.2553 followed by a clear breakout below it. In case of a rise to 1.3341-1.3289 sell GBP after a rejection within 1.3341-1.3289 with your take profit at 1.2553 and stop loss at 1.3628. However, should there be a decline to 1.2553 followed by a clear breach below it, sell GBP at it after a correction. Right now, remain flat.
Trade recommendation
Remain neutral.
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