13 Juli 2018, GBP/USD
Technical observation
Just like EUR, GBP/USD did not rise towards 1.3461, instead there was a clear breach below the support zone 1.3214-1.3202 with a big red candle and I expect a correction to it followed by a rejection of price within it for possible bearish movement of price towards 1.3055.It is only advisable to short the pair after the second retracement to the zone just to make sure it is not a false breakout. In case it is a false breakout and price rises above 1.3214-1.3202, you can still long GBP within the zone with your ideal target at 1.3461.Right now you can remain flat temporarily and wait for the pullback to 1.3214-1.3202.
Technical levels
Resistance levels
R1.1.3305
R2.1.3311
R3.1.3327
Pivot
1.3297
Support levels
S1.1.3289
S2.1.3278
S3.1.3262
Trade signal
Remain flat temporarily.
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