FX.co ★ hickle.manuela | Comprehensive Analysis in Trading: Mastering Methodologies

A noticeable corrective bounce was received from yesterday's decline from the weekly support zone of 1.3130-1.3170. This support did react as I expected, but I did not open any long positions on the GBP/USD pair as I anticipate that we will see new lows, so I would like to open short trades. A key resistance level of interest for this is 1.3245. If the price is pushed there at the start of the European session, I will be opening sell positions. I anticipate further decline towards the beginning of the 1.31 level, therefore I am only willing to consider buying the pair there based on an overall assessment of the situation in the majors and the dollar index.