11 October 2018, GBP/USD
After days of rising steadily towards the resistance zone 1.3315-1.3281, the pair on the daily chart above is rallying below it and I expect a rise to it followed by a bounce within it for possible bearish momentum towards 1.2904 and a possible breach below it for a further decline in price. Wait for a close and a rejection within 1.3315-1.3281 to pick short positions with your ideal target at 1.2904 and stop loss slightly above 1.3315.As I said yesterday, as long as price is contained below this resistance zone only short positions can be advisable. Long positions may only be recommended above the zone 1.3315-1.3281 towards 1.3756.
Sell GBP/USD within 1.3315-1.3281 with your take profit at 1.2904 and stop loss slightly above 1.3315.Do you know against which currencies GBP is the most profitable?
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