03 сентября 2018, GBP/USD
Technical observation
On the daily chart above there was gap to the lower side over the weekend, the current candle opened below the line 1.2925 confirming that the breakout above the line was false. I expect a correction to the mentioned line followed by a rejection at it for possible bearish momentum towards 1.2687 and a break below it too for a further decline in price. My advice, short the pair at 1.2925 with your take profit at 1.2687 and stop loss around 1.3060.In case of a breach below the take profit continue short after a correction to it.Only short positions look ideal on the daily chart above and can be recommended.
Technical levels
Resistance levels
R1.1.3009
R2.1.3062
R3.1.3147
Pivot
1.2977
Support levels
S1.1.2925
S2.1.2892
S3.1.2808
Trade signal
Re -sell GBP/USD at 1.2935 with your take profit at 1.2687.
Do you know against which currencies GBP is the most profitable?
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