Remain flat | 23 July 2018

23 July 2018, GBP/USD

Technical observation

On the weekly chart above, GBP/USD went down below a support zone 1.3373-1.3240 last week.Currenlty price is pulling back to the zone and I expect either a rejection of it within the zone or a clear breakout above it.In case there’s a rejection of price within 1.3373, wait for a second correction to the zone before you short the pair within it just to ensure it was not a false breakout. If GBP/USD breaks above 1.3373-1.3240, then the breakout was false, wait for a correction to 1.3373-1.3240 the long GBP towards the resistance 1.4615.Right now remain flat and wait for the correction to 1.3373-1.3240 to trade GBP.

Technical levels

Resistance levels

R1.1.3297

R2.1.3463

R3.1.3799

Pivot

1.3127

Support levels

S1.1.2961

S2.1.2791

S3.1.2455

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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