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We're flat

We're flat | 02 November 2018

02 November 2018, GBP/USD

We're flat

Technical observation

GBP/USD rose steadily towards 1.3317-1.3281 and I expect a continuation of this momentum on this last day of trading. Currently I’m holding a neutral position as wait for the rise to the above mentioned zone and a bounce within it to re-sell this pair with my take profit at 1.2693 and stop loss around 1.3470.In case price does not rise to 1.3317-1.3281 but instead rallies to 1.2693 then breaks below it, wait for a retracement to it to confirm possible bearish momentum before you sell this pair but should there be a clear penetration above 1.3317-1.3281 with a big green candle, wait for a correction to it before you buy GBP.

Technical levels

Resistance levels

R1.1.2855

R2.1.2881

R3.1.2946

Pivot

1.2824

Support levels

S1.1.279

S2.1.2751

S3.1.2686

Trade signal

Remain flat.

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

We're flat

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Imelda Maseno
Analyst of «FreshForex» company
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