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Buy the GBP towards 1.3280.

Buy the GBP towards 1.3280. | 05 October 2017

05 October 2017, GBP/USD

Buy the GBP towards 1.3280.
Technical Observation:
Since October 2nd, Gbp has remained below the resistance zone 1.3280 and above 1.3235, unless there's a clear bearish breakout below 1.3235, or a bullish breakout above 1.3280, I choose to trade reversals only. As at the moment, I'm waiting for a pullback towards 1.3280 to short Gbp towards 1.3235, if this resistance is broken, then the price could rise towards 1.3365. This is from the bulls point of view, if the price goes below 1.3235, then the price could plummet towards 1.3215 or even lower
Technical Levels
Resistance levels
R1: 1.3237
R2: 1.3242
R3: 1.3249
Pivot
1.3234
Support Levels
S1: 1.3218
S2: 1.3226
S3: 1.3229
Trade Signal
Buy the GBP towards 1.3280.

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Imelda Maseno
Analyst of «FreshForex» company
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