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Long Towards 1.3461

Long Towards 1.3461 | 26 July 2017

26 July 2017, GBP/USD

Long Towards 1.3461

Technical Observation

Gbp is currently trading slightly below it's daily pivot line 1.3041 but above a key daily support line 1.2752. Despite m,y expectations that Gbp could rise towards 1.3461, the price continues to rally around a short term resistance line 1.306. I'm waiting for a clear breakout above this line to long Gbp with may previous target still intact at 1.3461. On the daily chart above, long positions looks more ideal and can be recommended while the price remains above 1.2752. Short positions can only be recommended below 1.2752 or on a reversal from 1.3461.

Technical levels:

Resistance levels

R1: 1.3074

R2: 1.3117

R3: 1.3194
Pivot
1.3041
Support Levels
S1: 1.2888
S2: 1.2964
S3: 1.2997
Trade Signal
Look for long positions towards 1.3461

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Imelda Maseno
Analyst of «FreshForex» company
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