Bearish pin bar but still above 1.3038 | 06 November 2017
06 November 2017, GBP/USD
Technical Observation:
Last week, Gbp dropped in price and ended up forming a bearish pin bar, but since the price is still above a key weekly support zone 1.3038-1.29358. Unless the price clearly breakout below this zone, I remain hesitant to short GBP, instead, I'm waiting for a rejection from this zone to long Gbp towards 1.4724. If the price can close below it, then I may consider a short position towards 1.21109. On the way downwards, the key lines to look for include 1.2688, and 1.2480.00.
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 .