Remain flat temporarily. | 24 Julio 2018

24 Julio 2018, GBP/USD

Remain flat temporarily.

Technical observation

Recently GBP/USD broke above a resistance line 1.3076 with a big green candle then rallied up, currently it is pulling back to the just broken line and I expect a rejection of it at or around the line for possible upwards movement of price. Wait for the correction to 1.3076 and a rejection of price at it then long GBP at it with your take profit at 1.3284 and stop loss around 1.3037.In case of a breach above 1.3300, wait for a correction to it before you continue long with the pair. Only long positions look ideal on the 4Hour chart above and can be recommended. Right now remain flat temporarily and wait for the correction to 1.3076

Technical levels

Resistance levels

R1.1.3158

R2.1.317

R3.1.3193

Pivot

1.3146

Support levels

S1.1.3135

S2.1.3123

S3.1.3099

Trade signal

Remain flat temporarily.

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

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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