Wait for a breakout below 1.2778 to pick a short position towards 1.2713 | 24 August 2017

24 August 2017, GBP/USD

Wait for a breakout below 1.2778 to pick a short position towards 1.2713
Technical Observation:
Gbp is currently trading below it's daily pivot line 1.28033, unless there's a clear break above this pivot line, gbp could drop further. On the way downwards a key support can seen around 1.2713, a break below this support will lead to rally further low towards 1.2600. On the hourly chart above, short positions still looks more ideal espeacillay for intraday traders. If the price breakout below the support line 1.2778, then this will provide even a more ideal place to pick a short position towards 1.2713.
Technical levels:
Resistance levels
R31.28815
R21.28577
R11.28271
Pivot
1.28033
Support Levels
S11.27727
S21.27489
S31.27183
Trade Signal.
Wait for a breakout below 1.2778 to pick a short position towards 1.2713

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Imelda Maseno
Analyst of «FreshForex» company
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