03 Tháng Năm 2018, GBP/USD
Technical observation
GBPUSD recently broke down below a support zone 1.3783-1.3753 with a big red candle and is still below it.Currently price is showing signs of retracing to the zone and I expect a rejection of it within or around the zone for possible bearish movement of price towards the support line 1.3512 and a breakout below 1.3512 for a further decline in price towards 1.3302.I would advise you sell GBP after the second retracement to the zone just to confirm this is not a false breakout, with your take profit at 1.3512 and stop loss around 1.3888.You can continue short with GBP in case of a breakout below 1.3512.
Technical levels
Resistance levels
R1.1.3894
R2.1.4008
R3.1.4195
Pivot
1.3825
Support levels
S1.1.3707
S2.1.3634
S3.1.3446
Trade signal
Wait for a correction to the broken zone then sell GBP after the second retracement to it with your take profit at 1.3512 and stop loss around 1.3888.