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Long from 1.2722 towards 1.3489

21 April 2017, GBP/USD

Long from 1.2722 towards 1.3489

Technical Observation:
Recently, after breaking above 1.2774, GBP is still retracing towards my pending buy limit line 1.2723. From the daily chart shown above, the intraday trend bearish, but rather than going short, I will re-buy this pair should the price retrace back towards 1.2723. with this long position, I will place my ST at 1.2330 and my TP at 1.3489. The long term trend is bullish and sticking to long term trends is much safer.
Technical levels: Resistance levels
R1:1.2821
R2:1.2827
R3:1.2843
Pivot Point 1.2811
Support Levels
S1: 1.2778
S2: 1.2795
S3: 1.2805
Trade Signal
Long from 1.2722 towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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