We're flat | 17 June 2020

17 June 2020, GBP/USD

We're flat

Technical observation

GBP is rallying with an increasing bearish bias towards a supportive zone it established around 1.2497-1.2479. My expectation is a loss of this bearish rally within the zone for a rise towards the key level 1.2753. My advice, remain flat and wait for a correction to the zone 1.2497-1.2479 and a bounce within it to buy GBP with your take profit at 1.2753 and stop loss at 1.2396. Should there be a clear breach below the zone 1.2497-1.2479 with a big red candle, wait for a correction to the just broken zone and a rejection to sell GBP with your take profit at the line 1.2225 and a stop loss at 1.2557.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .