Remain flat | 26 July 2018
26 July 2018, GBP/USD
Technical observation
GBP/USD has been rallying up towards the resistance zone 1.3300-1.3284. I expect either a rejection of price within it or a clear breach above it with a big green candle. In case GBP/USD does not penetrate above the zone and is rejected, you can short the pair within it with your ideal target at 1.3076.If price is not rejected within the zone and penetrates above it clearly, wait for a pullback to it to confirm bullish movement of price before you enter long positions towards the resistance line1.3462. If price goes above 1.3462, continue long after a correction to it. Right now you can remain flat.
Technical levels
Resistance levels
R1.1.3158
R2.1.317
R3.1.3193
Pivot
1.3150
Support levels
S1.1.3135
S2.1.3123
S3.1.3099
Trade signal
Remain flat.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
