26 октября 2018, GBP/USD
Technical observation
GBP/USD is still plummeting to the lower side and my expectation is either a rejection of it at the support 1.2686 or a clear breach below it for further downwards movement of price. If you are already short, remain in the trade and pick your profits at 1.2686 and in case you are not in a trade yet, remain flat and wait for a either a rejection of price at 1.2686 and a correction to the resistance zone 1.3317-1.3281 to sell GBP, or, a clear breakout below 1.2686 followed by a correction to it confirming bearish momentum of price before you sell GBP. On the daily chart above, only short positions look ideal and can be advisable.
Technical levels
Resistance levels
R1.1.3111
R2.1.3155
R3.1.3248
Pivot
1.3069
Support levels
S1.1.3018
S2.1.2968
S3.1.2785
Trade signal
Remain short.
Do you know against which currencies GBP is the most profitable?
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