We're short | 18 July 2018

18 July 2018, GBP/USD

We're short

Technical observation

Yesterday GBP/USD went down as predicted towards the support 1.3050 and is still rallying towards it.I expect a breach below 1.13050 followed by a correction to it for possible bearish momentum towards 1.2775.If you went short yesterday within the resistance zone 1.3317-1.3276 remain in the trade with your ideal target at 1.3050.In case of a break below 1.3050 then I expect surge to the lower side, wait for a correction to it then continue short with the pair towards 1.2775.If you are not short now, wait for a breakout below 1.3050 followed by a correction to it then short the pair with your target at 1.2775.

Technical levels

Resistance levels

R1.1.3284

R2.1.3332

R3.1.3471

Pivot

1.3195

Support levels

S1.1.3145

S2.1.3055

S3.1.2916

Trade signal

Remain short.

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

We're short

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Imelda Maseno
Analyst of «FreshForex» company
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