Sell within 1.3056-1.3025 | 12 September 2018
12 September 2018, GBP/USD
Technical observation
Yesterday, GBP/USD rose to the resistance zone 1.3056-1.3025 but could not penetrate above it and was contained within the zone, right now it is rallying down towards the support 1.2687.Im looking to sell GBP/USD within the above mentioned zone with my take profit at 1.2687 and stop loss slightly above 1.3056, should price break below 1.2687, wait for a correction to confirm further bearish momentum of prices before you continue short with the pair. Long positions can only be advisable above 1.3056-1.3025 in case of a clear breakout above it with a big green candle followed by a retracement to it.
Technical levels
Resistance levels
R1.1.2994
R2.1.3072
R3.1.3192
Pivot
1.2955
Support levels
S1.1.2873
S2.1.2831
S3.1.271
Trade signal
Sell GBP/USD within 1.3056-1.3025 with your take profit at 1.2687 and stop loss slightly above 1.3056.
Do you know against which currencies GBP is the most profitable?
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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.
