13 October 2017, GBP/USD
Technical Observation:
Gbp continues to rise but is showing signs of getting exhausted upon reaching the 4 hour resistance line 1.3277. Today, I'm patiently waiting for a sell signal around this line, but if the price rise above it, the the price can continue rising towards 1.3465 or even higher to 1.355. As it is on the 4 hour chart above, I can only recommended a short position around 1.3277 with a take profit at 1.3060.
Technical Levels
Resistance levels
R1: 1.3305
R2: 1.3542
R3: 1.3917
Pivot
1.3166
Support Levels
S1: 1.2415
S2: 1.2791
S3: 1.2929
Trade Signal
Look for a short position around 1.3277