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Place a pending buy limit order around 1.3027.

Place a pending buy limit order around 1.3027. | 02 Agosto 2017

02 Agosto 2017, GBP/USD

Place a pending buy limit order around 1.3027.

Technical Observations

Gbp is currently 16 pips above it's daily pivot line 1.3216. Yesday, Gbp pulled back slightly to the lowerside and could pullback even further. I've placed a pending buy limit order around 1.3027just in case the price pullsback to this line. My expectations are that, the price should spike upwards towards the daily resisatance line 1.3461 and could break even higher. If this resistance line is broken, then I expect further rise towards 1.4673. A key support line can be seen around 1.2752, if the price pullback to this line, then this will offer the best place to long Gbp towards 1.3461.

Technical levels:

Resistance levels

R1: 1.3234

R2: 1.3264
R3: 1.3312
Pivot
1.3216
Support Levels
S1: 1.3119
S2: 1.3167
S3: 1.3186
Trade Signal
Place a pending buy limit order around 1.3027.

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Imelda Maseno
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