Wait for a pullback towards 1.2762 to long Gbp towards1.2962
Wait for a pullback towards 1.2762 to long Gbp towards1.2962 | 28 June 2017
28 June 2017, GBP/USD
Technical Observation
Recently, a breakout was seen when Gbp rose above the 4hour resistance line 1.2762 and is still above. This is a sign that bulls could be in control but instead of going long immediately, I'm waiting for a pullback to the just broken line, 1.2762 to buy Gbp towards 1.2962. On the 4 hour chart above, long positions seems more ideal unless 1.2762 is clearly breached to the lower side with a big red candle.
Technical levels:
Resistance levels
R1: 1.2877
R2: 1.2941
R3: 1.3085
Pivot
1.2798
Support Levels
S1:1.251
S2: 1.2654
S3: 1.2733
Trade Signal
Wait for a pullback towards 1.2762 to long Gbp towards1.2962
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