Remain short | 10 September 2018

10 September 2018, GBP/USD

Remain short

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.

Do you know against which currencies GBP is the most profitable?

Remain short

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Imelda Maseno
Analyst of «FreshForex» company
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