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Remain short

16 May 2018, GBP/USD

Remain short

Technical observation

On the chart above, GBP/USD retraced at a resistance line 1.3562 several times, Yesterday i predicted a sell trade from it and it went I predicted, If you sold GBP/USD already I would advise you remain in the trade towards 1.3302,if you had not sold it yet, you can still sell it now with your take profit at 1.3302 and stop loss around 1.3699.In case of a breakout below 1.3302,remain short with GB P towards 1.3054. Right now bears are charged and only short positions can be recommended. Long positions can only be recommended in case of a clear breakout above 1.3805-1.3755 with a big green candle.

Technical levels

Resistance levels

R1.1.3592

R2.1.3641

R3.1.3736

Pivot

1.3549

Support levels

S1.1.3497

S2.1.3452

S3.1.3358

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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