05 октября 2018, GBP/USD
Technical observation
The pair on the daily chart above could not breach below the support 1.2904, it was rejected before moving up towards 1.3315-1.3281, I expect either a correction to 1.3315-1.3281 or a clear breakout below 1.2904 with a big red candle for possible bearish momentum towards 1.2624.In case of a correction to the resistance zone 1.3315-1.3281,re-sell GBP/USD within it after a rejection towards 1.2904 and should there be a breakout below 1.2904,wait for a correction to it confirming possible further downward movement of price before you pick short positions with your take profit at 1.2024,Right now remain flat.
Technical levels
Resistance levels
R1.1.308
R2.1.3131
R3.1.3221
Pivot
1.312
Support levels
S1.1.299
S2.1.295
S3.1.2859
Trade signal
Remain flat.
Do you know against which currencies GBP is the most profitable?
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