06 September 2018, GBP/USD
Technical observation
GBP/USD is still correcting to the resistance 1.3025, I expect a rejection of it at or around the line for possible downwards movement of price towards 1.2687.Wait for the correction to 1.3025 then short the pair on the daily chart above at it with your take profit at 1.2687 and stop loss around 1.3143.Should there be a breakout below 1.2687, wait for a retracement to it confirming further bearish movement of GBP before you continue short with the pair. Long positions may only be recommended in case of a clear breakout above 1.3025 with a big green candle followed by a pullback to it.
Technical levels
Resistance levels
R1.1.3009
R2.1.3062
R3.1.3147
Pivot
1.2983
Support levels
S1.1.2925
S2.1.2892
S3.1.2808
Trade signal
Wait for the correction to 1.3025 to sell GBP/USD towards 1.2687.
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