24 июня 2020, GBP/USD
Technical observation
Yesterday price did not bounce within the resistance zone 1.2497-1.2479 as i had anticipated; instead, it penetrated above the zone with a big green candle and is currently rallying above it with an increasing bearish momentum. My expectation is either a rejection of this downwards movement within the zone, or a clear breakout below it if the break above the zone yesterday was false. In case of a bounce, pick long position within the zone with your take profit at 1.2753. However, should price break below the zone, wait for correction to it and rejection before you pick short positions with your take profit at 1.2225.
Trade recommendation
Remain neutral.
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