Sell GBP/USD within 1.3315-1.3281 | 16 October 2018
16 October 2018, GBP/USD
Technical observation
The pair on the daily chart above is still rallying below a resistance zone 1.3315-1.3281,I expect a rise to it followed by a bounce within it for possible bearish rally of price towards 1.12904 and a possible breakout below it for a further decline in price towards 1.2624.Wait for arise to the above mentioned zone then pick short positions within it with your take profit at 1.2904 and stop loss slightly above 1.3315.Right now, only short positons can be advisable within 1.3315-1.3281,long positions may only be recommended in case of a clear breakout above 1.3315-1.3281 followed by a pullback to it and a bounce within it.
Technical levels
Resistance levels
R1.1.3225
R2.1.3298
R3.1.341
Pivot
1.3188
Support levels
S1.1.3113
S2.1.3073
S3.1.2961
Trade signal
Sell GBP/USD within 1.3315-1.3281.
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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.
