Still moving upwards | 08 September 2017

08 September 2017, GBP/USD

Still moving upwards
Technical Observation:
As I said on Thursday's analysis, Gbp broke out above 1.3016, retraced back to it, just once before continuing long. I went long after the engulfing candle following this breakout and is still holding onto this position. My expectations is that the price should rise even higher towards the resistance line 1.3151. If this resistance is broken, then the price could rise towards 1.3275. According to the 4 hours chart above, long positions still remains more ideal and can safely be recommended towards 1.3151 sell positions can be recommended in case the price is rejected from 1.3151.
Technical levels:
Resistance levels
R3:1.32161
R2:1.31663
R1:1.31321
Pivot
1.30823
Support Levels
S1:1.30481
S2:1.29983
S3:1.29641
Trade Signal
Long towards 1.3151

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus