Wait for a pullback to sell GBP | 25 September 2020

25 September 2020, GBP/USD

Wait for a pullback to sell GBP

Technical observation

GBP did not break below the line 1.2631; instead, it bounced at it and is currently trading with an increasing bullish momentum above the same line. Expect this bullish movement to continue to the resistance zone 1.3006-1.2970 followed by a rejection within it to re-sell GBP with you take profit at 1.2631 and stop loss at 1.3100. In case this take profit is triggered and there is a clear break below it with a big red candle, wait for a correction to the just broken zone and a bounce confirming further bearish movements of price before you continue short towards the supportive zone marked at 1.2226-1.2194.

Trade recommendation

Wait for a correction to 1.3006-1.1.2970 to sell GBP.

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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus