01 августа 2018, GBP/USD
Technical observation
GBP/USD is rallying down towards a key support line 1.3009.I expect a possible clear breach below it with a big red candle followed by a correction to it for possible bearish movements of GBP towards the support 1.2792 and a breakout below it too for a further decline in price. Remain flat and wait for the breakout below 1.3009 followed by a correction to it then short the pair at it with your ideal target at 1.2792 and stop loss around 1.3153.In case GBP does not break below 1.3009 and instead retraces to the resistance zone 1.3314-1.3279, you can still short the pair within the zone towards 1.3009 after a bounce from it.
Technical levels
Resistance levels
R1.1.3164
R2.1.321
R3.1.3295
Pivot
1.3126
Support levels
S1.1.308
S2.1.3042
S3.1.2958
Trade signal
Remain flat.
Do you know against which currencies GBP is the most profitable?
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