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Sell within 1.3056-1.3025

Sell within 1.3056-1.3025 | 12 Septiembre 2018

12 Septiembre 2018, GBP/USD

Sell within 1.3056-1.3025

Technical observation

Yesterday, GBP/USD rose to the resistance zone 1.3056-1.3025 but could not penetrate above it and was contained within the zone, right now it is rallying down towards the support 1.2687.Im looking to sell GBP/USD within the above mentioned zone with my take profit at 1.2687 and stop loss slightly above 1.3056, should price break below 1.2687, wait for a correction to confirm further bearish momentum of prices before you continue short with the pair. Long positions can only be advisable above 1.3056-1.3025 in case of a clear breakout above it with a big green candle followed by a retracement to it.

Technical levels

Resistance levels

R1.1.2994

R2.1.3072

R3.1.3192

Pivot

1.2955

Support levels

S1.1.2873

S2.1.2831

S3.1.271

Trade signal

Sell GBP/USD within 1.3056-1.3025 with your take profit at 1.2687 and stop loss slightly above 1.3056.

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

Sell within 1.3056-1.3025

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Imelda Maseno
Analyst of «FreshForex» company
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