Technical Market Overview:
The GBP/USD pair has tested the technical support after the Bearish Engulfing candlestick pattern was made with a top at the level of 1.3101. Currently, due to the overbought market conditions and almost neutral RSI, the market might try to break through the support at the level of 1.3017 and move towards the next technical support at the level of 1.2977 - 1.2962.
Weekly Pivots:
WR3 - 1.3137
WR2 - 1.3074
WR1 - 1.2986
Weekly Pivot: 1.2980
WS1 - 1.2827
WS2 - 1.2766
WS3 - 1.2683
Trading recommendations:
The sell orders have hit the take profit at the level of 1.3017, so well done for everyone who traded the setup. Another setup is to sell again when the price will break the support at the level of 1.3017 with a target seen at the level of 1.2977.
