31 августа 2018, GBP/USD
Technical observation
GBP/USD is still pulling back to the just broken line 1.2925, I expect a rejection of price at it for upward movements of GBP.Long the pair on the second retracement to 1.2925 just to ensure it is not a false breakout. In case it is and there’s a breach below 1.2925, wait for a correction to it then short GBP/USD towards 1.2687.Right now remain flat temporarily as price rallies on a bearish bias towards 1.2925 which i expect to be over at it then long GBP on the next correction to it.Short positions may also be still advisable within 1.3317-1.3283 in case there’s a rally to it and price is rejected within it.
Technical levels
Resistance levels
R1.1.12885
R2.1.292
R3.1.2995
Pivot
1.2852
Support levels
S1.1.281
S2.1.2772
S3.1.2697
Trade signal
Remain flat temporarily.
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