26 Juni 2017, GBP/USD
Technical Observation
On the weekly chart above, Gbp is currently trading within a rising wedge. Following the rejection from the resistance line 1.2915, I expect breakout below the lower trendline acting as a support to the rising wedge to short Gbp. If this is the case, then I'll wait for a pullback to the just broken trend line to short Gbp towards the support 1.2152. If this should be the case, then I expect further decline towards 1.1531.
Technical levels:
Resistance levels
R1: 1.2744
R2: 1.2769
R3: 1.2817
Pivot Point
1.272
Support Levels
S1: 1.2623