24 July 2018, GBP/USD
Technical observation
Recently GBP/USD broke above a resistance line 1.3076 with a big green candle then rallied up, currently it is pulling back to the just broken line and I expect a rejection of it at or around the line for possible upwards movement of price. Wait for the correction to 1.3076 and a rejection of price at it then long GBP at it with your take profit at 1.3284 and stop loss around 1.3037.In case of a breach above 1.3300, wait for a correction to it before you continue long with the pair. Only long positions look ideal on the 4Hour chart above and can be recommended. Right now remain flat temporarily and wait for the correction to 1.3076
Technical levels
Resistance levels
R1.1.3158
R2.1.317
R3.1.3193
Pivot
1.3146
Support levels
S1.1.3135
S2.1.3123
S3.1.3099
Trade signal
Remain flat temporarily.
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