Re-sell within 1.3315-1.3281. | 19 October 2018
19 October 2018, GBP/USD
Technical observation
GBP/USD went down as predicted but did not reach the support 1.2904,currently it is pulling back to the zone 1.3315-1.3281 and my expectation is a bounce within it for possible downwards movement of price towards 1.2904 and a possible breach below it for a further decline in price towards 1.2624.I’m looking to re-sell this pair within the above mentioned zone with my target at 1.2904 and my stop loss slightly above 1.3315.Should there be a clear breakout above 1.3315 with a big green candle, I’ll wait for a correction to it confirming possible bullish momentum of price before i pick long positions towards 1.3756.
Technical levels
Resistance levels
R1.1.3225
R2.1.3298
R3.1.341
Pivot
1.3194
Support levels
S1.1.3113
S2.1.3073
S3.1.2961
Trade signal
Re-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.
