GBPUSD – Flat
Technical observation
GBP/USD is currently correcting to the just broken line 1.2925.I expect a rejection of it at the line for possible bearish momentum towards the support line 1.2687 and a possible breach below it too for a further decline in price. My advice, wait for the pullback to 1.2925 and a bounce from it then short the pair on the daily chart above around it with your take profit at 1.2687 and stop loss around 1.3043.You can continue short with the pair after a breakout below the take profit and a correction to it.In case of a breach above 1.2925 with a big green candle, wait for a correction to it before you enter long positions towards 1.3283.
Technical levels
Resistance levels
R1.1.3009
R2.1.3062
R3.1.3147
Pivot
1.2981
Support levels
S1.1.2925
S2.1.2892
S3.1.2808
Trade signal
Sell GBP/USD around 1.2925 towards 1.2687.
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