GBPUSD – Flat
Technical observation
GBP/USD is still above the supportive zone 1.3056-1.3025 and is rising towards the resistance line 1.3319,I expect a correction to 1.3056-1.3025 followed by rejection within it to re-sell buy GBP towards 1.3319,or a breakout above 1.3319 followed by a correction to it for possible bullish momentum towards 1.3588 or even higher to 1.3999.Only long positions look ideal on the daily chart above and can be recommended within the zone 1.3056-1.3025 towards 1.3319.Short positions can only be advisable below 1.3056-1.3025,should there be a breakout below it with a big red candle followed by a retracement to it.
Technical levels
Resistance levels
R1.1.3124
R2.1.3178
R3.1.3266
Pivot
1.315
Support levels
S1.1.3036
S2.1.3002
S3.1.2915
Trade signal
Wait for a correction to 1.3056-1.3025 to re-buy GBP/USD.
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