Remain flat | 02 August 2018

02 August 2018, GBP/USD

Remain flat

Technical observation

GBP/USD is till rallying between the resistance zone 1.3314-1.3279 and the support 1.3009.I expect either a pullback to 1.3314-1.3279 or a breach below 1.3009 followed by a retracement to it for a bearish momentum. In case of a correction to 1.3314-1.3279 Short GBP within the zone towards 1.3009 after a rejection of price within it and in case of a clear breach below 1.3009, wait for a correction to it before you sell GBP at it with your ideal target at 1.2792. On the daily chart above long positions may only be advisable in case of a clear breach above the zone 1.3314-1.3279 with a big green candle and a correction to it.

Technical levels

Resistance levels

R1.1.3164

R2.1.321

R3.1.3295

Pivot

1.3128

Support levels

S1.1.308

S2.1.3042

S3.1.2958

Trade signal

Remain flat.

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

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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