24 Mei 2018, GBP/USD
Technical observation
After rallying down towards a support line 1.3302, GBP/USD could not penetrate below it, it sent a tail perfectly to it but was rejected. Right now price is correcting to 1.3512 and i expect a rejection of it from the resistance line for downwards movements.1.3512 will be a good place to sell the pair since it has previous retracements to it.If price fails to correct to 1.3512 and instead breaks down below 1.3302, wait for a correction to it then short GBP towards 1.3928.You can remain flat now and wait for either a correction to 1.3512 or a breakout below 1.3302 and a correction to it to short the pair.
Technical levels
Resistance levels
R1.1.3514
R2.1.3558
R3.1.3632
Pivot
1.3488
Support levels
S1.1.344
S2.1.3411
S3.1.3337
Trade signal
Remain flat.