Short GBP within 1.3317-1.3276 | 17 Julio 2018

17 Julio 2018, GBP/USD

Short GBP within 1.3317-1.3276

Technical observation

GBP/USD is on a downward trend. Price retraced at a resistance zone 1.3317-1.3276 twice before moving down. Currently, it is correcting to the zone and I expect a rejection of it within it for downwards movement on price towards 1.3050.Short the pair within 1.3317-1.3276 with your take profit at 1.3050 and stop loss slightly above 1.3317, In case of a breach below 1.3050,continue short with the pair after a retracement to it.If GBP breaks above 1.3317,wait for a correction to it to confirm upward movement if price before you long the pair with your ideal target at the resistance key level1.3578.

Technical levels

Resistance levels

R1.1.3284

R2.1.3332

R3.1.3471

Pivot

1.3193

Support levels

S1.1.3145

S2.1.3055

S3.1.2916

Trade signal

Short the pair within 1.3317-1.3276 with your take profit at 1.3050 and stop loss slightly above 1.3317. Do you know against which currencies GBP is the most profitable?

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Imelda Maseno
Analyst of «FreshForex» company
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