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Re-buy Gbp around 1.3027 towards 1.3461.

Re-buy Gbp around 1.3027 towards 1.3461. | 03 Agosto 2017

03 Agosto 2017, GBP/USD

Re-buy Gbp around 1.3027 towards 1.3461.

Technical Observations

As per the previous analysis, Gbp rose slightly to the upper side but is still showing signs it could rise even further. Today, I expect a rise towards the daily resistance line 1.3461 and even a breakout. If this is the case, then I expect further bullish move towards the nest resistance line 1.4673. According to the daily chart above, long positions looks more ideal, however, if the price gets below the short term support line 1.3027 or if the price is rejected from 1.3461, then these will be the best places to short Gbp.

Technical levels:

Resistance levels

R1: 1.33122

R2: 1.32823

R3: 1.32506

Pivot

1.32207

Support Levels

S1: 1.31890

S2: 1.31591

S3: 1.31274

Trade Signal

Wait and re-buy Gbp around 1.3027 towards 1.3461.

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Imelda Maseno
Analyst of «FreshForex» company
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