Remain flat temporarily. | 27 Juli 2018

27 Juli 2018, GBP/USD

Remain flat temporarily.

Technical, observation

GBP/USD is retracing towards the support 1.3076 and I still expect a slight decline in price up to 1.3076.Remain flat temporarily and wait for the correction and rejection of GBP at 1.3076 then long it at the line with your ideal target at 1.3284 and stop loss slightly below 1.3076.I expect a rise in price up to the resistance zone 1.3300-1.3284 and a clear breakout above it with a big green candle followed by a correction to it for a further rise in price towards 1.3462.In case there’s a breach below 1.3076,wait for a pullback to it to confirm bearish movement of price before you enter short positions towards 1.2959.

Technical levels

Resistance levels

R1.1.3158

R2.1.317

R3.1.3193

Pivot

1.3152

Support levels

S1.1.3135

S2.1.3123

S3.1.3099

Trade signal

Remain flat temporarily.

Do you know against which currencies GBP is the most profitable?

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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