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Remain short

Remain short | 01 October 2018

01 October 2018, GBP/USD

Remain short

Technical observation

On the daily chart above GBP/USD is rallying below a resistance zone 1.3315-1.3281 towards the support 1.2693.In case you had already picked short position within the zone, remain short with your ideal target at 1.2693.If you had not traded this yet, wait for a correction to the above mentioned zone and a bounce within it then pick short positions within it with your take profit at 1.2693 and stop loss slightly above 1.3315.Should there be breach above 1.3315-1.3281 with a big green candle, I expect nothing but a correction to the just broken zone followed by a rise towards the resistance line 1.3756.

Technical levels

Resistance levels

R1.1.308

R2.1.3131

R3.1.3221

Pivot

1.304

Support levels

S1.1.299

S2.1.295

S3.1.2859

Trade signal

Remain short.

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Remain short

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Imelda Maseno
Analyst of «FreshForex» company
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