Technical analysis prediction for the 3rd of September 2018

Instrument ; Gbp usd

Indicators; Ema200,50, Macd 12,26,9, Rsi 14, S/R

speculative position ; long position

price prediction ; 1.3350

weekly chart

Daily chart

Gbp usd mkt trend is strongly bearish bias, technical view on the weekly chart indicates continual downward movement in price in the recent months and in long term speculation i expect the currency pair to retrace uptrend, Ema signal is downtrend, Rsi(33.96), Macd signal is downtrend, on the daily chart, the currency pair remains strongly bearish bias, and at the bottom price level, i expect retracement uptrend towards 1.3350 level in near term, Ema signal is downtrend, Rsi(30.29), Macd signal is downtrend and prediction for the 3rd of September 2018 is 1.3350
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