13 Juli 2017, GBP/USD
Technical Observation
Finally the price took my take profit line 1.2810 and is currently pulling back upwards. This is just retracement move towards the resistance line 1.2921, where I've placed a pending sell limit order. On the hourly chart above, short positions still look more ideal but the best place to short this pair is upon a rejection from 1.2921 or on breakout below 1.2810. Buy positions may only be recommended upon a clear breakout above 1.2921 or on a rejection from the support line 1.2810. On the daily chart, Gbp still look bearish and should continue downwards towards 1.2747.
Technical levels:
Resistance levels
R1: 1.2906