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Remain short

Remain short | 27 June 2018

27 June 2018, GBP/USD

Technical observation

GBP/USD yesterday went down as predicted and I still expect a decline in it towards the support 1.3054.I expect a decline in price towards 1.3054 and a breakout below it for a further decline towards the lower support 1.2792.If you sold the pair within the zone yesterday, remain in the trade with your ideal target at the support 1.3054, if you had not traded it yet, wait for a retracement to 1.3314-1.3280 followed by a rejection of price within it to short GBP/USD with first take profit at 1.3054 and stop loss slightly above 1.3314.Continue short after a breakout below 1.3054 and a correction to it.

Technical levels

Resistance levels

R1.1.3308

R2.1.3335

R3.1.3405

Pivot

1.3266

Support levels

S1.1.3237

S2.1.3194

S3.1.3124

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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