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Remain short

Remain short | 06 July 2018

06 July 2018, GBP/USD

Technical observation

Yesterday, the pair on the daily chart above went down and I still expect a bearish momentum towards 1.3057,in case you sold the pair yesterday, remain short with your ideal target at 1.3057 and stop loss slightly above 1.3317.If you are not in a trade yet, wait for a correction of price to 1.3317-1.3283 and a rejection of it within the zone then short within it with your first take profit at 1.3057 and the next at 1.2799 and your stop loss around 1.3407.On the chart above only short positions look ideal and can be recommended .Long positions may only be advisable in case of a clear breach above 1.3317.

Technical levels

Resistance levels

R1.1.3308

R2.1.3334

R3.1.3404

Pivot

1.3270

Support levels

S1.1.3238

S2.1.3194

S3.1.3124

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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