Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Wait for a correction to 1.3317-1.3276

Wait for a correction to 1.3317-1.3276 | 19 July 2018

19 July 2018, GBP/USD

Wait for a correction to 1.3317-1.3276

Technical observation

GBP/USD went down yesterday but could not break below 1.3050.It is currently retracing to the key resistance zone 1.3317-1.3276 and I do not expect a penetration above the zone but a rejection of price within it for possible bearish movements of price towards 1.3050 and a breakout below 1.3050 for a further downwards movement towards 1.2775.Wait for the correction to 1.3317-1.3276 then short GBP within the zone with your ideal target at 2.3050 and stop loss around 1.3427.In case price does not pull back to 1.3317-1.3276 and instead breaks below 1.3050,wait for a correction to it before you enter short positions towards 1.2775.

Technical levels

Resistance levels

R1.1.3284

R2.1.3332

R3.1.3471

Pivot

1.3197

Support levels

S1.1.3145

S2.1.3055

S3.1.2916

Trade signal

Wait for a correction to 1.3317-1.3276 to short GBP.

Do you know against which currencies GBP is the most profitable?

Wait for a correction to 1.3317-1.3276

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login

Show password

Hide password

 Forgot password?
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 .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.