07 Agustus 2018, GBP/USD
Technical observation
Recently, there was a clear breach below the support 1.3009, price is currently correcting to the just broken line and I expect a bounce of it from the line for possible bearish momentum towards the support 1.2792 and a possible breakout below it for a further decline in price. Wait for the correction to 1.3009 and rejection at it then short GBP at the line with your take profit at 1.2792 and stop loss around 1.3125.In case of a breach below 1.2792, wait for a correction to it before you continue short with the pair. Only short positions look ideal and can be recommended on the daily chart above.
Technical levels
Resistance levels
R1.1.3039
R2.1.3076
R3.1.3144
Pivot
1.3007
Support levels
S1.1.2971
S2.1.2939
S3.1.287
Trade signal
Wait for a correction to 1.3009 to short GBP/USD
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