15 Oktober 2018, GBP/USD
Technical observation
GBP/USD gaped to the lower side of this chart and is currently rising towards a key resistance zone 1.3315-1.3281.I expect a rejection of it within the above mentioned zone followed by possible bearish movement of price towards 1.2904 and a possible breakout below it for a further decline in price towards 1.2624.Wait for the pullback to 1.3315-1.3281 then pick short positions within it with your take profit at 1.2904 and stop loss around 1.3450.Should there be a clear breach above 1.3315-1.3281 with a big green candle, wait for a correction to it confirming possible bullish momentum of price before you pick long positions towards 1.3756.
Technical levels
Resistance levels
R1.1.3225
R2.1.3298
R3.1.341
Pivot
1.3186
Support levels
S1.1.3113
S2.1.3073
S3.1.2961
Trade signal
Wait for a correction to 1.3315-1.3281 to sell GBP/USD.
Do you know against which currencies GBP is the most profitable?More trading assets here...