Bulls in control | 17 November 2017

17 November 2017, GBP/USD

Bulls in control
Technical Observation:
As I said earlier, Gbp rallied higher as expected and could rise even higher today. I went long around 1.3049 and is still holding onto this trade, I expect a momentum towards the 4 hour resistance line 1.3307, and a breakout above. If the price should break above 1.3307, then I'll wait for a pullback to the just broken line to pick another buy position towards 1.3415. If the price should bounce from 1.3307, then I expect a short position from this line towards 1.3049 or even lower. As it is, my advice to remain long with your take profit still fixed at 1.3307.
Technical Levels
Resistance levels
R1: 1.3185
R2: 1.3197
R3: 1.3217
Pivot
1.3178
Support Levels
S1: 1.3136
S2: 1.3156
S3: 1.3165
Trade Signal
Remain long towards 1.3307

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Imelda Maseno
Analyst of «FreshForex» company
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