09 July 2018, GBP/USD
Technical observation
The pair on the daily chart above has been trading above a support zone 1.3297-1.3188 with three retracements to it.Last weeks’ candle was bullish but it did not rise high, right now, price is correcting to the 1.3297-1.3188 and I expect a rejection of it within the zone for possible bullish momentum towards 1.4615.Long GBP/USD within 1.3297-1.3188 with your ideal target at 1.4615 and stop loss slightly below 1.3188.In case of a clear breach below 1.3188,wait for a correction to it to ensure bearish movements of price before you short the pair towards the supportive line 1.2003.
Technical levels
Resistance levels
R1.1.3354
R2.1.3422
R3.1.3619
Pivot
1.3224
Support levels
S1.1.3157
S2.1.3027
S3.1.283
Trade signal
Long GBP/USD within 1.3297-1.3188 with your take profit at 1.4615 and stop loss slightly below 1.3188.
101% Double the volume