Forex Technical Analysis: Trend potential – Sell Gbp at 1.32336

GBPUSD – Flat
Technical Observation:
Recently, the price traded rapidly to the lower side and even went below a 4 hour support line 1.32336. While the price is contained below this line, I’m waiting for a pullback to this line to look for a short position with my take profit at 1.31. If you’re not in a short position yet, its good to wait for this retracement to enter with precision. The idea is to sell at 1.32336 with stop loss above 1.32875 and take profit at 1.30.
Technical Levels
Resistance levels
R1: 1.3416
R2: 1.3548
R3: 1.3784
Pivot
1.3314
Support Levels
S1: 1.2842
S2: 1.3078
S3: 1.3177
Trade Signal
Sell Gbp at 1.32336

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