GBPUSD – Flat
Technical observation
Price broke down below a support zone (1.4069-1.4023) on 5th of this month, it then went down before correcting to the broken zone with a pin bar tail then continued down up to a key line 1.3792.Currently price is rallying towards (1.4069-1.4023) and I expect a rejection of it at the zone or around the zone for a bearish movement of price towards 1.3792 or even further lower to 1.3313.Right now i would advise you short GBPUSD after a rejection of price around the resistance zone with your first target at 1.3792 and the next at 1.3313 and stop loss at 1.4134.
Technical levels
Resistance levels
R1.1.3953
R2.1.4082
R3.1.4306
Pivot
1.3859
Support levels
S1.1.373
S2.1.3636
S3.1.3412
Trade signal
Short GBPUSD around (1.4069-1.4023) with your first target at 1.3792 and the next at 1.3313 and stop loss at 1.4134.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.