Flat | 06 Juli 2017

06 Juli 2017, GBP/USD

Flat

Technical Observation

Gbp failed to sustain the breakout below the neckline, 1.2922, instead, the price oscillated below 1.2922 for a couple of hours and then back above. I'm flat temporarily waiting for a clear breakout below 1.2922 to continue short towards 1.2819. On the hourly chart above, Gbp looks a bit bullish, but from the double top point of view formation, I expect a drop towards 1.2819 upon a clear break below 1.2922.
Technical levels:
Resistance levels
R1: 1.2942
R2: 1.2951
R3: 1.2972
Pivot
1.2931
Support Levels
S1: 1.289
S2: 1.2911
S3: 1.2922
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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