07 September 2018, GBP/USD
Technical observation
GBP/USD is still rallying below 1.3025 and I expect a pullback to It followed by a rejection of price at or around it for downwards, movement of price towards 1.2687.Remain flat temporarily and wait for the rejection at 1.3025 to pick short positions around it with your take profit at 1.2687 and stop loss around 1.3130.Continue short after a breakout below 1.2687 followed by a pullback to it confirming a further decline of GBP.Should there a breakout above 1.2687 with a big green candle, wait for a correction to it to confirm bullish movements of GBP before you pick long positions towards the resistance 1.3283.
Technical levels
Resistance levels
R1.1.3009
R2.1.3062
R3.1.3147
Pivot
1.2985
Support levels
S1.1.2925
S2.1.2892
S3.1.2808
Trade signal
Remain flat temporarily.
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