Technical observation
GBP/USD is still rallying towards the support 1.2693 and I expect either a clear breakout below it with a big red candle or a rejection at it followed by a correction to the zone 1.3317-1.3281.In case of a correction to 1.3317-1.3281, wait for a rejection within it then to re-sell this pair with your take profit at 1.2693 and stop loss slightly above 1.3317 and in case there’s no rejection within the above mentioned zone but a clear penetration above it with a big green candle, I’ll wait for a confirmation of bullish movement of GBP before I buy this pair. Should there be a breakout below 1.2693, wait for a retracement to it before you sell GBP.
Technical levels
Resistance levels
R1.1.2855
R2.1.2881
R3.1.2946
Pivot
1.2818
Support levels
S1.1.279
S2.1.2751
S3.1.2686
Trade signal
Wait for either a correction to 1.3317-1.3281 or a breakout below 1.2693 to sell GBP.
Origin: FreshForex
