15 Agosto 2017, GBP/USD
Technical Observation
According to the daily chart above, Gbp should plummet further towards the daily support line 1.2752 where I've placed a pending buy limit order. From this chart, sell positions still look more ideal especially while the price has not breached the support line 1.2752, if this support can be broken, then the price could fall further towards 1.2167. A rejection from 1.2752 will call for a long positions towards 1.3461. My advice, conservative traders should have a pending buy limit order fixed around 1.2752 with a take profit at 1.3461.
Technical levels:
Resistance levels
R3:1.30728
R2:1.30444
R1:1.30085
Pivot
1.29825
Support Levels
S1:1.29442
S2:1.29158
S3:1.28799
Trade Signal
Place a pending Buy limit order around 1.2752 with a TP at 1.3461.