Sell GBP/USD within 1.3315-1.3281 | 10 October 2018

10 October 2018, GBP/USD

Technical observation

This pair is still rallying towards the resistance zone 1.3315-1.3281 and as long as it remains below it only short positions can be recommended towards 1.2904 or even lower to 1.2624.My expectations is a rise towards the zone and a bounce within it for possible bearish movement of price towards 1.2904 and a breakout below it for a further decline in GBP towards 1.2624.My advice, wait for a close within 1.3315-1.3281 the pick short positions within it with your take profit at 1.2904 and stop loss slightly above 1.3315.Long positions may only be advisable in case of a clear breakout above 1.3315 with a big green candle.

Technical levels Resistance levels

R1.1.3068

R2.1.3113

R3.1.3229

Pivot

1.3001

Support levels

S1.1.2952

S2.1.2881

S3.1.2766

Trade signal

Sell GBP/USD within 1.3315-1.3281 with your take profit at 1.2904 and stop loss slightly above 1.3315.

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

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Imelda Maseno
Analyst of «FreshForex» company
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