GBP/USD Forecast. Technical Analysis: Trend potential

gbp_cfdTechnical observation

GBP/USD rose steadily towards 1.3317-1.3281 and I expect a continuation of this momentum on this last day of trading. Currently I’m holding a neutral position as wait for the rise to the above mentioned zone and a bounce within it to re-sell this pair with my take profit at 1.2693 and stop loss around 1.3470.In case price does not rise to 1.3317-1.3281 but instead rallies to 1.2693 then breaks below it, wait for a retracement to it to confirm possible bearish momentum before you sell this pair but should there be a clear penetration above 1.3317-1.3281 with a big green candle, wait for a correction to it before you buy GBP.

We're flat

Technical levels

Resistance levels

R1.1.2855

R2.1.2881

R3.1.2946

Pivot

1.2824

Support levels

S1.1.279

S2.1.2751

S3.1.2686

Trade signal

Remain flat.

Origin: FreshForex

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