GBPUSD – Flat
Technical observation
GBP/US went down below a supportive zone 1.3423-1.3297 and is still rallying below it .I expect a correction of price to the zone and a rejection of it within the zone for possible bearish momentum towards the support 1.2731 and a possible breakout below it too for a further decline in price towards 1.2003.My advice, wait for the correction to 1.3423-1.3297before you short the pair but on the second correction to the zone just to make sure it is not a false breakout. If price breaks above the zone instead of moving down, then the breakout was false so just wait for a correction to it then long the pair.
Technical levels
Resistance levels
R1.1.3317
R2.1.3427
R3.1.367
Pivot
1.3183
Support levels
S1.1.3074
S2.1.294
S3.1.2969
Trade signal
Wait for a correction to 1.3423-1.3297 to short GBP.
101% Double the volume
You may check other analytical reviews on FreshForex website. Source: freshforex.com.