We're short | 10 July 2018

10 July 2018, GBP/USD

We're short

Technical observation

GBP/USD broke below a support zone 1.3317-1.3283,price then retraced to it twice before rallying down to the support 1.3051.Recently price corrected to the zone but could not penetrate above it and was rejected. Yesterday’s candle was a perfect engulfing bearish candle and I expect a decline in GBP today and the days to come towards 1.3051 and a possible breakout below it for a further decline in price towards 1.2798.If you sold the pair yesterday, remain short with your ideal target at 1.3051,in case you had not sold it yet, you can still short GBP now with your take profit at 1.3051 and stop loss around 1.3428.

Technical levels

Resistance levels

R1.1.3224

R2.1.3255

R3.1.3335

Pivot

1.3176

Support levels

S1.1.3144

S2.1.3096

S3.1.3017

Trade signal

Remain short.

101% Double the volume

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Imelda Maseno
Analyst of «FreshForex» company
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