Buy Gbp around 1.2941 | 07 November 2017

07 November 2017, GBP/USD

Buy Gbp around 1.2941
Technical Observation:
Despite the bearish pin seen last week, Gbp continues to rise upwards and will continue to rise. Beneath the close of this pin, is a key support line 1.2941, and unless there's clear breakout below it, I expect this line to shield any penetration. Thus, If the price can drop perfectly to this line, then this will be a good place to long Gbp towards 1.3460. My advice, remain flat and buy Gbp around 1.2941.
Technical Levels
Resistance levels
R1: 1.3736
R2: 1.4075
R3: 1.4829
Pivot
1.3323
Support Levels
S1: 1.1812
S2: 1.2566
S3: 1.2982
Trade Signal
Buy Gbp around 1.2941 towards 1.3490.

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Imelda Maseno
Analyst of «FreshForex» company
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