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Remain flat temporarily.

Remain flat temporarily. | 11 September 2018

11 September 2018, GBP/USD

Remain flat temporarily.

Technical observation

Yesterday price rallied towards the resistance zone 1.3056-1.3025, right now it is within the zone and is still rising. I expect either a rejection of it within the zone for possible bearish movement of price or a clear breakout above the zone with a big green candle. My advice, remain flat temporarily and wait for either to trade the pair. In case price is rejected and does not penetrate above the zone, pick short position with your ideal target at 1.2687, and in case of a breakout above the mentioned zone, wait for a correction to it confirming bullish movement of price before you pick long position towards 1.3319.

Technical levels

Resistance levels

R1.1.2994

R2.1.3072

R3.1.3192

Pivot

1.2953

Support levels

S1.1.2873

S2.1.2831

S3.1.271

Trade signal

Remain flat temporarily.

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

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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