Re-buy GBP at 1.3076 | 25 July 2018

25 July 2018, GBP/USD

Re-buy GBP at 1.3076

Technical observation

GBP/USD retraced to the just broken resistance line1.3076, it could not penetrate below it and was rejected then rose steadily towards 1.3284.Right now price is correcting to the support 1.3076 and I expect a rejection of it from the line for bullish momentum towards 1.3284.My advice, long GBP at 1.3076 with your take profit at 1.3284 and stop loss around 1.3040.In case of a breakout above the resistance zone 1.3300-1.3284,wait for a correction to it to confirm bullish momentum of price before you continue long with the pair. Right now wait for the correction to 1.3076 then long GBP at it with your ideal target at 1.3284.

Technical levels

Resistance levels

R1.1.3158

R2.1.317

R3.1.3193

Pivot

1.3148

Support levels

S1.1.3135

S2.1.3123

S3.1.3099

Trade signal

Long GBP at 1.3076 with your take profit at 1.3284 and stop loss around 1.3040.

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

Re-buy GBP at 1.3076

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Imelda Maseno
Analyst of «FreshForex» company
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