Long GBP upon a second retest of 1.2748 towards 1.3489 | 04 May 2017

04 May 2017, GBP/USD

Long GBP upon a second retest of 1.2748 towards 1.3489
Technical Observation:
GBP has been trading on the sideways but is currently showing signs of possible bears coming in. On the daily chart attached, I expect a possible second pullback to the just broken resistance 1.2748 to long GBP towards 1.3489. My advice, if you went long on the first pullback towards 1.2748, leave this position open, if not, remain flat and long GBP upon retracing towards 1.2748.
Technical levels:
Resistance levels
R1: 1.2921
R2: 1.2975
R3:1.3058
Pivot Point
1.2891
Support Levels
S1: 1.2724
S2: 1.2808
S3: 1.2838
Trade Signal
Long GBP upon a second retest of 1.2748 towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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