Remain flat | 25 Mei 2018

25 Mei 2018, GBP/USD

Technical observation

GBP/UDS has been trading on a down ward trend. Price retraced at a resistance 1.3512 before racing down, yesterday it pulled back but could not reach 1.3512,right now price is between 1.3512 and 1.3302 and i expect either a breakout below 1.3302 or a retracement to 1.3512 for possible bearish movements of price. I would advise you remain flat now and wait for either a breakout below 1.3302 and a correction to it to short GBP, or a retracement to 1.3512 and a rejection of price at it to short the pair. This pair on a downward movement and only short positions looks ideal and so can be recommended.

Technical levels

Resistance levels

R1.1.3514

R2.1.3558

R3.1.3632

Pivot

1.3490

Support levels

S1.1.344

S2.1.3411

S3.1.3337

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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