12 Juni 2018, GBP/USD
Technical observation
GBP/USD went below a support zone 1.3473-1.3478 then retraced to it as a resistance. Recently price pulled back to the zone but could not penetrate above it, it was rejected and is currently rallying towards a support 1.3054,I expect a rejection of it from the line followed a correction to 1.3473-1.3478 and a rejection of price within the zone for possible bearish momentum towards 1.3054,If you already sold the pair within 1.3473-1.3478,remain in the trade with your ideal target at 1.3054,if you had not sold it yet, wait for a correction to the zone then short the pair within it.Long positions may only be advisable above 1.3473.
Technical levels
Resistance levels
R1.1.3448
R2.1.3487
R3.1.3572
Pivot
1.3401
Support levels
S1.1.3363
S2.1.3316
S3.1.323
Trade signal
Remain short.
101% Double the volume