Forex Technical Analysis: Trend potential – Remain short towards 1.2476.


Technical observation

This pair is rallying around a support 1.2815, I expect more bearish price rally towards the level 1.2476, in case you picked short position yesterday at 1.2815, remain short with your take profit at 1.2476 and stop loss at 1.2995, if you are not in a trade yet, you can wait for a close at 1.2815 to sell GBP.Long positions may only be recommended in case of a clear penetration above the level 1.2815 with a big green candle followed by a correction to it.In case this pair breaks below 1.2466 the more downwards movement of price will be anticipated. Right now you can remain short and wait to pick your profits at the support level 1.2476.

Trade recommendation

Remain short towards 1.2476.

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