28 августа 2018, GBP/USD
Technical observation
Recently price corrected to a resistance 1.2925 before rallying down, currently it is pulling back to the same key line and I expect a rejection of it at it for possible downwards movements of price towards 1.2687 and a possible breakout below it for a further decline in price. My advice, short the pair at 1.2925 with your ideal target at 1.2687 and stop loss around 1.3069,in case of a clear breach above 1.2925,wait for a correction to it to confirm bullish momentum of price before you enter long positions. If price goes below 1.2687, you can wait for a correction to it before you continue short with the pair.
Technical levels
Resistance levels
R1.1.12885
R2.1.292
R3.1.2995
Pivot
1.2846
Support levels
S1.1.281
S2.1.2772
S3.1.2697
Trade signal
Short the pair at 1.2925 with your ideal target at 1.2687 and stop loss around 1.3069.
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