GBPUSD – Flat
Technical observation
Yesterday price was rejected at a support line 1.3515 and is now pulling back to the resistance zone 1.3805-1.3753.I expect a rejection of it within the zone for a bearish momentum of price towards 1.3515 and a breakout below it for further bearish movement of price towards 1.3302,if 1.3302 is breached too, I expect a decline of price to the lowest support line 1.3049.right now wait for the retracement to the zone then short GBP/USD within it with your take profit at 1.3515 and stop loss around 1.3918. Only long GBP/USD In case there’s a clear breach of price above 1.3805 with a big green candle.
Technical levels
Resistance levels
R1.1.3623
R2.1.3673
R3.1.3765
Pivot
1.3583
Support levels
S1.1.3531
S2.1.3488
S3.1.3396
Trade signal
Short GBP/USD within 1.3805-1.3753 with your take profit at 1.3515 and stop loss around 1.3918.
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