Forex Technical Analysis: Trend potential – Sell gbp below 1.32336


Sell gbp below 1.32336

Technical Observation:
Yesterday, gbp barely hit my sell line 1.34609, but ended up rallying to the lowerside without moving to the lowerside. Today, I expect a breakout below 1.32336 to confirm a possible rally towards 1.131 or even lower. On it’s way to the lowerside, the key lines to the lowerside include 1.32326, 1.131, 1.3012. and 1.2791. As it is, only a sell position looks ideal, but should the price bounce from 1.32336, then this will be a good place to buy.
Technical Levels
Resistance levels
R1: 1.3481
R2: 1.3572
R3: 1.3749
Support Levels
S1: 1.3037
R2: 1.3215
R3: 1.3313
Trade Signal
Sell gbp below 1.32336

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