Wait for a breakout below 1.2904. | 23 Octubre 2018

23 Octubre 2018, GBP/USD

Wait for a breakout below 1.2904.

Technical observation

GBP/USD is declining towards the support 1.2904, I expect a possible clear breach below it followed by a correction to it for possible downwards movement of price towards 1.2624.My advice, wait for a breakout below the line and a correction to it then pick short positions at it with your take profit at 1.2624 and stop loss slightly above 1.2904.In case of a break below 1.2624, wait for a pullback to it before you continue short with GBP. Should there be no break below 1.2904 but a bounce at it and a pull back to the resistance zone 1.3315-1.3281, you can still sell this pair within just mentioned zone after a rejection of price within it.

Technical levels

Resistance levels

R1.1.3111

R2.1.3155

R3.1.3248

Pivot

1.3063

Support levels

S1.1.3018

S2.1.2968

S3.1.2785

Trade signal

Wait for a breakout below 1.2904.

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

Wait for a breakout below 1.2904.

More trading assets here...

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