Long Gbp now towards 1.3576 | 20 November 2017

20 November 2017, GBP/USD

Technical Observation:
Gbp is currently trading with an increasing bullish momentum. Last week's candle is a perfect bullish continuation candle and signals bullish dominance. I expect a rise in price of this pair with my first take profit at 1.3576. My advice, if you're a bit skeptic to Gbp earlier this week, you could wait for a breakout above the upper trend line acting as a resistance to the rising wedge formation then long it towards 1.3576. As it is, only a buy position can be recommended towards 1.3576.
Technical Levels
Resistance levels
R1: 1.3224
R2: 1.3253
R3: 1.3327
Pivot
1.318
Support Levels
S1: 1.3032
S2: 1.3106
S3: 1.315
Trade Signal
Long Gbp now towards 1.3576 with your stop loss below last week's lowest low.

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Imelda Maseno
Analyst of «FreshForex» company
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