GBPUSD – Flat
Technical observation
GBP/USD has been trading on a downward trend, it went down a support zone 1.3805-1.3755 with a big red candle but just like EUR it has not corrected to the zone. Currently price is at a resistance line 1.3562, it was rejected from the it yesterday right now it is showing signs of bearish movements towards 1.3302, I’m looking to short GBP now with my take profit at 1.3302 and stop loss around 1.3664.In case price breaks above 1.3562 then is rejected at 1.3805-1.3755, you can still short GBP within the zone towards 1.3562.Only buy GBP if there’s a clear breach above 1.3508 with a big green candle and a correction to it.
Technical levels
Resistance levels
R1.1.3592
R2.1.3641
R3.1.3736
Pivot
1.3547
Support levels
S1.1.3497
S2.1.3452
S3.1.3358
Trade signal
Short GBP/USD now with your take profit at 1.3302 and stop loss around 1.3664.
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