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Flat

Flat | 16 June 2017

16 June 2017, GBP/USD

Flat

Technical Observation

GBP is slowly rising above the resistance line 1.2765. Following the first failed attempt to break above this resistance line, I'm still reluctant to long GBP. Rather, I'm waiting for a confirmation that this break is genuine and that the price will remain above 1.2765. On the 4 Hour chart above, unless 1.2765 clearly broken to the lower side, I expect a move upwards. Any clear bearish breach below this line may push the price to the lower side. My advice, remain flat for now.
Technical levels:
Resistance levels
R1: 1.2791
R2: 1.2832
R3: 1.2948
Pivot Point
1.2779
Support Levels
S1: 1.2487
S2: 1.2602
S3: 1.2671
Trade Signal
Remain flat for now

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Imelda Maseno
Analyst of «FreshForex» company
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