10 September 2018, GBP/USD
Technical observation
The pair on the daily chart above is rallying below a resistance 1.3025, price was rejected at the line before rallying down. If you picked short positions at the line remain short with your ideal target at 1.2687 and stop loss around 1.3147, if you had not sold the pair yet, wait for correction to 1.3025 for the third time and a rejection of price at it to short the pair with your take profit at 1.2687.You can continue short with the pair in case of a breach below 1.2687 followed by a correction to it confirming further decline in price. Long positions may only be recommended above 1.3025 towards 1.3283.
Technical levels
Resistance levels
R1.1.2994
R2.1.3072
R3.1.3192
Pivot
1.2951
Support levels
S1.1.2873
S2.1.2831
S3.1.271
Trade signal
Remain short.
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