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Buy GBP/USD within 1.3056-1.3025

Buy GBP/USD within 1.3056-1.3025 | 17 September 2018

17 September 2018, GBP/USD

Buy GBP/USD within 1.3056-1.3025

Technical observation

After the breakout above the resistance zone 1.3056-1.3025 with a big green candle, there was correction to the just broken zone and a rejection within it. Right now price is moving upwards and I expect arise towards 1.3319 and a possible breakout above it for a further rise towards the upper resistance line 1.3588.I’m waiting to pick long positions within 1.3056-1.3025 with my take profit at 1.3319 and stop loss around 1.2896.Should there be a breach above 1.3319, wait for a retracement to it confirming a further rise in price before you continue long with the pair towards 1.3588.Right now buy GBP/USD within 1.3056-1.3025.

Technical levels

Resistance levels

R1.1.3124

R2.1.3178

R3.1.3266

Pivot

1.309

Support levels

S1.1.3036

S2.1.3002

S3.1.2915

Trade signal

Buy GBP/USD within 1.3056-1.3025 towards 1.3319.

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

Buy GBP/USD within 1.3056-1.3025

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Imelda Maseno
Analyst of «FreshForex» company
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