GBPUSD – Flat
Technical observation
GBP/USD is currently trading on bearish momentum below the resistance zone 1.3315-1.3281,as long as price is contained below this zone, I expect surge to the lower side towards 1.2693.Wait for a retracement to the zone 1.3315-1.3281 and a rejection of price within it to pick short positions with your take profit at 1.2693 and stop loss slightly above 1.3315.Should there be a clear breach above the resistance zone with a big green candle, wait for a correction to it before you pick long positions. On your way upwards the key line to look for include 1.13756 and 1.4098,if these lines are breached then i expect a spike further up.
Technical levels
Resistance levels
R1.1.3221
R2.1.336
R3.1.3583
Pivot
1.3140
Support levels
S1.1.2998
S2.1.2915
S3.1.2693
Trade signal
Wait for a correction to 1.3315-1.3281 to re-sell GBP.
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