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.

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

More trading assets here...

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 .