We're short | 29 May 2018

Technical observation

After breaking down below a support zone 1.3567-1.3515, price consolidated within the zone then raced down towards a support 1.3306.Currently price is at 1.3306 and I expect either a breakout below it or a correction to 1.3567-1.3515 and a rejection within it for bearish movements of price. I would advise you wait for either a breakout below 1.3306 or a correction to 1.3567-1.3515 to short GBP. On the chart above only short positions look ideal and can be recommended. Long positions can only be advised in case of a clear breakout above1.3567-1.3515 with a big green candle and a correction to it.

Technical levels

Resistance levels

R1.1.3352

R2.1.3408

R3.1.3495

Pivot

1.3322

Support levels

S1.1.3266

S2.1.3236

S3.1.3149

Trade signal

Wait for either a breakout below 1.3306 or a correction to 1.3567-1.3515 to short GBP.

101% Double the volume