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Declining towards 1.2752

Declining towards 1.2752 | 09 August 2017

09 August 2017, GBP/USD

Declining towards 1.2752

Technical Observation

GBp declined even further despite the previous forecast that it could rise upwards. The price could fall further low towards the support line 1.2752, thus, if you were stopped of on a previous buy position, you could wait and buy Gbp around 1.2752. Alternatively, you could place a pending buy limit order around 1.2752 with a stop loss slightly below 1.2578 and Take profit still fixed at the daily resistance line 1.3461. If 1.3461 is broken, then the price could rise further upwards towards 1.4673.

Technical levels:

Resistance levels

R1: 1.3163

R2: 1.321
R3: 1.3339
Pivot
1.3089
Support Levels
S1: 1.2824
S2: 1.2952
S3: 1.3034
Trade Signal
Place a pending buy limit order around 1.2752

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Imelda Maseno
Analyst of «FreshForex» company
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