Gbp Consolidating upwards | 20 Julio 2017

20 Julio 2017, GBP/USD

Gbp Consolidating upwards

Technical Observations

July 18th, Gbp broke out below the hourly support line 1.3051 with a big red candle. However, instead of continuing, Gbp is consolidating within an ascending channel. I'm patiently waiting for either a rejection from 1.3051 or a break below the lower trend line acting as the bottom of this channel to short Gbp towards the support line 1.2914. On the hourly chart above, 1.3051 is a key resistance line and if price can pullback to it, then this will be an ideal place to pick a short positions. However if its breached to the upper side with a big green candle, then an opposite rally should follow, that is a rise towards the weekly resistance line 1.3306. My advice look for short positions around 1.3051 with your take profit at 1.2914.

Technical levels:

Resistance levels

R1: 1.3048

R2: 1.3072
R3: 1.3115
Pivot
1.3029
Support Levels
S1: 1.2943
S2: 1.2986
S3: 1.3005
Trade Signal
Short Gbp around 1.3051 towards 1.2914

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus