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GBP may rising towards 1.2768

GBP may rising towards 1.2768 | 23 June 2017

23 June 2017, GBP/USD

GBP may rising towards 1.2768

Technical Observation

Just as stated on the other day's forecast. GBP broke above 1.2648, retraced back to it but is currently on its way to the upper side. I expect a rise towards the resistance line 1.2765 and a even a breakout to the upper side. But unless 1.2765 is clearly breached to the upper side with a big green candle, I expect a rejection 1.2765 to short GBP towards 1.2555. On the 4 hour chart above, I'm waiting for a break above the short term resistance line 1.2702 to confirm a bullish move towards 1.2765.
Technical levels:
Resistance levels
R1: 1.2729
R2: 1.2781
R3: 1.2902
Pivot Point
1.2659
Support Levels
S1: 1.2416
S2: 1.2538
S3: 1.2607
Trade Signal.
I expect a rise towards 1.2765

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Imelda Maseno
Analyst of «FreshForex» company
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