Wait for a correction | 14 September 2018
14 September 2018, GBP/USD
Technical observation
The pair on the daily chart above did not go down as predicted, instead, a breakout was seen when price broke above the resistance zone 1.3056-1.3025.I expect a correction to the just broken zone followed by a rejection of it within it for possible bullish momentum toward the resistance line 1.3319 and a possible breakout above it for a further rise in price towards 1.3568 or even higher to 1.3999.Buy GBP/USD within 1.3056-1.3025 with your take profit at 1.3319 and stop loss around 1.2917.Right now only long positions look ideal on the daily chart above and can be recommend within 1.3056-1.3025.
Technical levels
Resistance levels
R1.1.2994
R2.1.3072
R3.1.3192
Pivot
1.2959
Support levels
S1.1.2873
S2.1.2831
S3.1.271
Trade signal
Wait for a correction to 1.3056-1.3025 to buy GBP/USD.
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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.
