27 февраля 2020, GBP/USD
Technical observation
GBP has been retracing towards a supportive zone it established around 1.2900-1.2864, currently price is trading above this zone and i expect a decline followed by a rejection within it for possible bullish movements towards the key level 1.3313. Remain flat temporarily and wait for a bounce within the zone 1.2900-1.2864 to buy GBP with your take profit at 1.3313 and stop loss at 1.2735. In case this take profit is reached and there is a clear rise above it then further bullish momentum can be anticipated. On the daily chart above, short positions may only be recommended below 1.2900-1.2864 towards 1.2517.
Trade recommendation
Remain flat temporarily.
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