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Re-sell at 1.2935

Re-sell at 1.2935 | 03 September 2018

03 September 2018, GBP/USD

Re-sell at 1.2935

Technical observation

On the daily chart above there was gap to the lower side over the weekend, the current candle opened below the line 1.2925 confirming that the breakout above the line was false. I expect a correction to the mentioned line followed by a rejection at it for possible bearish momentum towards 1.2687 and a break below it too for a further decline in price. My advice, short the pair at 1.2925 with your take profit at 1.2687 and stop loss around 1.3060.In case of a breach below the take profit continue short after a correction to it.Only short positions look ideal on the daily chart above and can be recommended.

Technical levels

Resistance levels

R1.1.3009

R2.1.3062

R3.1.3147

Pivot

1.2977

Support levels

S1.1.2925

S2.1.2892

S3.1.2808

Trade signal

Re -sell GBP/USD at 1.2935 with your take profit at 1.2687.

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

Re-sell at 1.2935

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Imelda Maseno
Analyst of «FreshForex» company
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