17 Tháng bảy 2020, GBP/USD
Technical observation
GBP retraced to a resistance zone it established around 1.2690-1.2613 but did not penetrate above it. As long as price is contained below the zone mentioned above, we can only anticipate bearish price rally. Within the zone 1.2690-1.2613 was the ideal place to pick short positions with this pair, in case you sold GBP within 1.2690-1.2613 after a bounce, remain short with your take profit at 1.1647 and stop loss at 1.3088. In case there is a clear breach above the zone 1.2690-1.2613 with a big green candle, wait for a correction to the just broken zone and bounce within it before you long GBP towards 1.3402.
Trade recommendation
Remain short with your take profit at 1.1647.
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