Flat | 03 November 2017

03 November 2017, GBP/USD

Flat
Technical Observation:
Yesterday, the zone 1.3321-1.3295 was used as a key Resistance both on the daily and 4 hour charts. Following the rejection from this zone, the price dropped relentlessly to the lower side but is currently facing a key daily support zone 1.3040-1.3025. This is a key support zone, and unless there's a clear bearish breakout below it, I expect a rejection from it to pick a long position towards 1.3295. On the other side, if the price should go below 1.3025 then I expect further drop in price towards 1.29.
Technical Levels
Resistance levels
R1: 1.1773
R2: 1.1936
R3: 1.2199
Pivot
1.1673
Support Levels
S1: 1.1148
S2: 1.1411
S3: 1.151
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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