Inside Bar on GBP/USD

Inside Bar on EUR/GBP

GBP/USD quotes have moved away from local lows. The current technical pattern signals a further recovery of British pound. Some classic patterns of Price Action, "Inside Bar" (H1 timeframe), have been formed in the trading instrument. At the moment, the GBP/USD currency pair is testing the 1.2265 mark. We recommend paying attention to this situation.

If the price fixes above the resistance level of 1.2265, GBP/USD purchases should be considered. The nearest goal for profit-taking is 1.2325. The movement is tending to 1.2370-1.2410. When following positions, we recommend using a trailing stop.

by JustMarkets 2020.05.19

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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