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Long GBP above 1.2747 towards 1.3489.

Long GBP above 1.2747 towards 1.3489. | 31 May 2017

31 May 2017, GBP/USD

Long GBP above 1.2747 towards 1.3489.
Technical Observation
Recently, GBP retraced back to the daily support line 1.2747, despite the feeling that it could rise following the first retracement. Unless this support is clearly breached to the lower side with a red big candle, I expect a possible rejection from this line to buy GBP towards 1.3489. On the daily chart above, buy positions seems more ideal towards 1.3489 unless 1.2747 is breached to the lower side,
Technical levels:
Resistance levels
R1: 1.2844
R2: 1.2864
R3: 1.2897
Pivot Point
1.2831
Support Levels
S1: 1.2765
S2: 1.2798
S3: 1.2811
Trade Signal
Long GBP above 1.2747 towards 1.3489.

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Imelda Maseno
Analyst of «FreshForex» company
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