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Bulls to take charge anytime from now

Bulls to take charge anytime from now | 05 September 2017

05 September 2017, GBP/USD

Bulls to take charge anytime from now
Technical Observation:
Recently, Gbp declined in price and is currently lingering around a key buy line 1.2915. From the Monday's analysis, I should long Gbp now with a take profit fixed at 1.3016 and stop loss slightly below 1.2901. On the 4 hour chart above, Gbp is very bullish and only long positions seems more ideal especially while the price is still above 1.2915. That means, Unless the support line 1.2915 is broken with a big red candle, I remain hesitant to short Gbp, if its broken, the a decline towards 1.2785 will be the next best Ideal move.
Technical levels:
Resistance levels
R3:1.30163
R2:1.29922
R1:1.29607
Pivot
1.29366
Support Levels
S1:1.29051
S2:1.28810
S3:1.28495
Trade Signal
Long Gbp now with your take profit at 1.3015.

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Imelda Maseno
Analyst of «FreshForex» company
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