Gbp Buy place | 25 September 2017

25 September 2017, GBP/USD

Gbp Buy place
Technical Observation
Since Sept 15th, Gbp entered into a rectangular formation; not going above 1.3609 or below 1.3482. Unless there’s a clear break out of this rectangular formation, I’m only interested in trading reversals. If a breakout is seen, then I’ll pick either a buy or sell depending on the direction of breakout. If a breakout above 1.3609 is seen, the price could rise further towards 1.3680, while is a breakout below this rectangular formation is seen, then the price could plummet towards 1.3375. As it is, I’m waiting for a rejection from 1.3482 to Gbp towards 1.3609. And if the price is rejection from 1.3609, then I’ll look for a short position.
Technical levels:
Resistance levels
R1: 1.3625
R2: 1.3746
R3: 1.3954
Pivot
1.3538
Support Levels
S1: 1.3123
S2: 1.3331
S3: 1.3417
Trade Signal
Buy Gbp around 1.3482 with your take profit at 1.3609

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