Remain flat | 03 July 2018

03 July 2018, GBP/USD

Remain flat

Technical observation

The pair on the daily chart above broke below a support zone 1.3317-1.3283, price then corrected to it twice and went down. It rallied up to the support 1.3057 but could not penetrate below it.Right now GBP is between 1.3317-1.3283 and the line 1.3057 and i expect either a correction to 1.3317-1.3283 and a rejection of price within the zone for downwards movement of price, or a breakout below 1.3057 followed by a correction to it for possible bearish momentum of price. My advice, remain flat now and wait for either to short the pair. As long as price remains below 1.3317-1.3283, only short positions can be recommended on the chart above.

Technical levels

Resistance levels

R1.1.3308

R2.1.3334

R3.1.3404

Pivot

1.3264

Support levels

S1.1.3238

S2.1.3194

S3.1.3124

Trade signal

Remain flat.

101% Double the volume

!Attention!
All bonus participates in drawdown!
More detailed

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus