Re-buy within 1.3056-1.3025 | 20 September 2018

20 September 2018, GBP/USD

Technical observation

GBP/USD is still above the supportive zone 1.3056-1.3025 and is rising towards the resistance line 1.3319,I expect a correction to 1.3056-1.3025 followed by rejection within it to re-sell buy GBP towards 1.3319,or a breakout above 1.3319 followed by a correction to it for possible bullish momentum towards 1.3588 or even higher to 1.3999.Only long positions look ideal on the daily chart above and can be recommended within the zone 1.3056-1.3025 towards 1.3319.Short positions can only be advisable below 1.3056-1.3025,should there be a breakout below it with a big red candle followed by a retracement to it.

Technical levels

Resistance levels

R1.1.3124

R2.1.3178

R3.1.3266

Pivot

1.315

Support levels

S1.1.3036

S2.1.3002

S3.1.2915

Trade signal

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

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Imelda Maseno
Analyst of «FreshForex» company
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