Wait for a correction | 14 September 2018

14 September 2018, GBP/USD

Wait for a correction

Technical observation

The pair on the daily chart above did not go down as predicted, instead, a breakout was seen when price broke above the resistance zone 1.3056-1.3025.I expect a correction to the just broken zone followed by a rejection of it within it for possible bullish momentum toward the resistance line 1.3319 and a possible breakout above it for a further rise in price towards 1.3568 or even higher to 1.3999.Buy GBP/USD within 1.3056-1.3025 with your take profit at 1.3319 and stop loss around 1.2917.Right now only long positions look ideal on the daily chart above and can be recommend within 1.3056-1.3025.

Technical levels

Resistance levels

R1.1.2994

R2.1.3072

R3.1.3192

Pivot

1.2959

Support levels

S1.1.2873

S2.1.2831

S3.1.271

Trade signal

Wait for a correction to 1.3056-1.3025 to buy GBP/USD.

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

Wait for a correction

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Imelda Maseno
Analyst of «FreshForex» company
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