Remain flat temporarily. | 22 Juni 2018

22 Juni 2018, GBP/USD

Remain flat temporarily.

Technical observation

GBP/UDS is still correcting to the zone 1.3343-1.3305 and I expect a rejection of it within the zone for possible downwards movement of price towards 1.3054 and a breach below it for a further decline in GBP.I would advise you remain flat temporarily and wait for the correction to 1.3343-1.3305 then short the pair within the zone with your ideal target at 1.3054and stop loss slightly above 1.3343.You can place a pending trade now or just wait for the price within the zone to short GBP. Only short positions look ideal on the daily chart above and can be recommended within 1.3343-1.3305.

Technical levels

Resistance levels

R1.1.3272

R2.1.3299

R3.1.3349

Pivot

1.3260

Support levels

S1.1.3223

S2.1.3199

S3.1.3149

Trade signal

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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