Sell Gbp around 1.2921 | 13 July 2017

13 July 2017, GBP/USD

Sell Gbp around 1.2921

Technical Observation

Finally the price took my take profit line 1.2810 and is currently pulling back upwards. This is just retracement move towards the resistance line 1.2921, where I've placed a pending sell limit order. On the hourly chart above, short positions still look more ideal but the best place to short this pair is upon a rejection from 1.2921 or on breakout below 1.2810. Buy positions may only be recommended upon a clear breakout above 1.2921 or on a rejection from the support line 1.2810. On the daily chart, Gbp still look bearish and should continue downwards towards 1.2747.

Technical levels:

Resistance levels

R1: 1.2906

R2: 1.2911
R3: 1.2924
Pivot
1.2869
Support Levels
S1: 1.2871
S2: 1.2884
S3: 1.2892
Trade Signal
Wait and Sell Gbp around 1.2921 with TP at 1.2810

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Imelda Maseno
Analyst of «FreshForex» company
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