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Buy Gbp towards 1.3306

Buy Gbp towards 1.3306 | 18 July 2017

18 July 2017, GBP/USD

Buy Gbp towards 1.3306

Technical Observations

Nothing has changed much since the July 17th forecast. I still expect a rise towards the weekly resistance line 1.3306 and even a breakout above to re-buy Gbp towards the next weekly resistance line 1.4673. Key weekly support lines can be seen around 1.2719 and 1.2167, if the price can retrace back to these lines then these will be the best places to buy Gbp. Other than these, the next best place to buy Gbp is upon a breakout above 1.3306. On the weekly chart above, only buy positions can be recommended but with take profit at 1.3306, a break above this line will mean waiting for a pullback to the just broken line to buy Gbp.

Technical levels:

Resistance levels

R1: 1.3208

R2: 1.3313
R3: 1.3615
Pivot
1.301
Support Levels
S1: 1.2404
S2: 1.2707
S3: 1.2905
Trade Signal
Buy Gbp towards 1.3306

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Imelda Maseno
Analyst of «FreshForex» company
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