Remain short | 27 September 2018

27 September 2018, GBP/USD

Technical observation

GBP/USD Is still rallying below the resistance zone 1.3315-1.3285.I expect a correction to it followed by a bounce within it for possible bearish movement of price towards 1.2693 and a possible breakout below it for a further decline in price. If you already picked short positions within the zone, remain short with your ideal target at 1.2693 and stop loss slightly above 1.3315, and if you had traded this pair yet, wait for a correction to the above mentioned zone and a rejection within it to short the pair with you take profit at 1.12693 and stop loss slightly above 1.3315.Long positions may only be recommended above 1.3315-1.3285.

Technical levels

Resistance levels

R1.1.3221

R2.1.336

R3.1.3583

Pivot

1.3142

Support levels

S1.1.2998

S2.1.2915

S3.1.2693

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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