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Re-sell GBP at 1.3315-1.3281

Re-sell GBP at 1.3315-1.3281 | 25 September 2018

25 September 2018, GBP/USD

Technical observation

GBP/USD is currently trading on bearish momentum below the resistance zone 1.3315-1.3281,as long as price is contained below this zone, I expect surge to the lower side towards 1.2693.Wait for a retracement to the zone 1.3315-1.3281 and a rejection of price within it to pick short positions with your take profit at 1.2693 and stop loss slightly above 1.3315.Should there be a clear breach above the resistance zone with a big green candle, wait for a correction to it before you pick long positions. On your way upwards the key line to look for include 1.13756 and 1.4098,if these lines are breached then i expect a spike further up.

Technical levels

Resistance levels

R1.1.3221

R2.1.336

R3.1.3583

Pivot

1.3140

Support levels

S1.1.2998

S2.1.2915

S3.1.2693

Trade signal

Wait for a correction to 1.3315-1.3281 to re-sell GBP.

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Imelda Maseno
Analyst of «FreshForex» company
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