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Sell around 1.2925

Sell around 1.2925 | 05 September 2018

05 September 2018, GBP/USD

Sell around 1.2925

Technical observation

GBP/USD is currently correcting to the just broken line 1.2925.I expect a rejection of it at the line for possible bearish momentum towards the support line 1.2687 and a possible breach below it too for a further decline in price. My advice, wait for the pullback to 1.2925 and a bounce from it then short the pair on the daily chart above around it with your take profit at 1.2687 and stop loss around 1.3043.You can continue short with the pair after a breakout below the take profit and a correction to it.In case of a breach above 1.2925 with a big green candle, wait for a correction to it before you enter long positions towards 1.3283.

Technical levels

Resistance levels

R1.1.3009

R2.1.3062

R3.1.3147

Pivot

1.2981

Support levels

S1.1.2925

S2.1.2892

S3.1.2808

Trade signal

Sell GBP/USD around 1.2925 towards 1.2687.

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

Sell around 1.2925

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Imelda Maseno
Analyst of «FreshForex» company
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