31 Mei 2018, GBP/USD
Technical observation
After the breakout below the support 1.3306, GBP/USD retraced to it and is currently at it, i expect a rejection of price from it for bearish momentum towards the support line1.3054 and a breakout below it for further downwards movement towards 1.2792.You can short the pair now with your take profit at 1.3054 and stop loss around 1.3419.You can still short the pair within the resistance zone 1.3567-1.3515 in case price breaches above 1.3306 and is rejected within the zone. If there’s a clear breakout above 1.3567-1.3515, wait for a correction to it to confirm bullish momentum of price before you long the pair.
Technical levels
Resistance levels
R1.1.3352
R2.1.3408
R3.1.3495
Pivot
1.3326
Support levels
S1.1.3266
S2.1.3236
S3.1.3149
Trade signal
Short the pair now with your take profit at 1.3054 and stop loss around 1.3419.
101% Double the volume