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Short GBP towards 1.2555

Short GBP towards 1.2555 | 14 June 2017

14 June 2017, GBP/USD

Short GBP towards 1.2555
Technical Observation

GBP pulled back higher instead of continuing short. Unless there's a clear bullish breach above 1.2768 with a big green candle, I expect a rejection from 1.2768 to short GBP towards 1.2554. On the 4 Hour chart, now is the best time to short GBP with your Stop Loss slightly above the recent highest high 1.2825. My advice, if you didn't go short on the second retracement towards 1.2768, short GBP now and leave this position open unless 1.2768 is clearly broken.

Technical levels:
Resistance levels
R1: 1.2927
R2: 1.2944
R3: 1.3053
Pivot Point
1.2881
Support Levels
S1: 1.2702
S2: 1.2791
S3: 1.2842
Trade Signal
Short GBP towards 1.2555

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Imelda Maseno
Analyst of «FreshForex» company
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