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Remain long towards 1.3489

Remain long towards 1.3489 | 25 May 2017

25 May 2017, GBP/USD

Remain long towards 1.3489
Technical Observation
Recently, GBP got rejected from the lower trend line acting as the bottom of the rising channel and is currently rallying above it. Unless this trend line is clearly breached to the lower side, I expect a rise towards 1.3044 and further up towards 1.3489. On the 4 Hour chart above, buy positions seems ideal towards 1.3489. My advice, if you went long following the rejection lower trend line, leave this position open towards the trend line.
Technical levels:
Resistance levels
R1: 1.3004
R2: 1.3038
R3: 1.311
Pivot Point
1.2965
Support Levels
S1: 1.2821
S2: 1.2893
S3: 1.2931
Trade Signal
Remain long towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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