08 Agustus 2018, GBP/USD
Technical observation
Yesterday GBP/USD did not go up as predicted, instead, it went down and is still rallying down towards the support 1.2792,i expect a rejection of price at or around it followed by a correction to the just broken line for possible downwards movement of price. Remain flat temporarily and wait for the correction to 1.3009 then short the pair at it with your ideal target at 1.2792 and stop loss around 1.3149.In case of a break below 1.2792, wait for a correction to it then continue short with the pair. Long positions may only be recommended in case of a clear breach above the key resistance zone 1.3314-1.3279.
Technical levels
Resistance levels
R1.1.3039
R2.1.3076
R3.1.3144
Pivot
1.3009
Support levels
S1.1.2971
S2.1.2939
S3.1.287
Trade signal
Remain flat temporarily.
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