Wait | 15 Octubre 2018

15 Octubre 2018, GBP/USD

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Technical observation

GBP/USD gaped to the lower side of this chart and is currently rising towards a key resistance zone 1.3315-1.3281.I expect a rejection of it within the above mentioned zone followed by possible bearish movement of price towards 1.2904 and a possible breakout below it for a further decline in price towards 1.2624.Wait for the pullback to 1.3315-1.3281 then pick short positions within it with your take profit at 1.2904 and stop loss around 1.3450.Should there be a clear breach above 1.3315-1.3281 with a big green candle, wait for a correction to it confirming possible bullish momentum of price before you pick long positions towards 1.3756.

Technical levels

Resistance levels

R1.1.3225

R2.1.3298

R3.1.341

Pivot

1.3186

Support levels

S1.1.3113

S2.1.3073

S3.1.2961

Trade signal

Wait for a correction to 1.3315-1.3281 to sell GBP/USD.

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Imelda Maseno
Analyst of «FreshForex» company
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