looking to sell | 03 May 2018

03 May 2018, GBP/USD

looking to sell

Technical observation

GBPUSD recently broke down below a support zone 1.3783-1.3753 with a big red candle and is still below it.Currently price is showing signs of retracing to the zone and I expect a rejection of it within or around the zone for possible bearish movement of price towards the support line 1.3512 and a breakout below 1.3512 for a further decline in price towards 1.3302.I would advise you sell GBP after the second retracement to the zone just to confirm this is not a false breakout, with your take profit at 1.3512 and stop loss around 1.3888.You can continue short with GBP in case of a breakout below 1.3512.

Technical levels

Resistance levels

R1.1.3894

R2.1.4008

R3.1.4195

Pivot

1.3825

Support levels

S1.1.3707

S2.1.3634

S3.1.3446

Trade signal

Wait for a correction to the broken zone then sell GBP after the second retracement to it with your take profit at 1.3512 and stop loss around 1.3888.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus