24 Oktober 2018, GBP/USD
Technical observation
GBP/USD has been declining towards the support 1.2904, price could not penetrate below it and was rejected just around it. Right now it is on a bullish momentum towards 1.3315-1.3281 but still around 1.2904.I expect a rise to the zone followed by a rejection within it for downwards movement of this pair. In case there’s no correction to 1.3315-1.3281 but a breach below 1.2904, I expect price to drop towards the support 1.2624 and even break below it too, but Should GBP break above 1.3315-1.3281 with a big green candle and retrace to it, a rally towards 1.3756 is expected or even a further rise to the highest key line 1.4098.
Technical levels
Resistance levels
R1.1.3111
R2.1.3155
R3.1.3248
Pivot
1.3065
Support levels
S1.1.3018
S2.1.2968
S3.1.2785
Trade signal
Remain flat.
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