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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