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Looking to Re-buy Gbp around 1.3030

Looking to Re-buy Gbp around 1.3030 | 07 Septiembre 2017

07 Septiembre 2017, GBP/USD

Technical Observation:
Recently, after breaking out above 1.3016, Gbp sent its tail towards this line but got rejected to the upper side. This was the first retracement to this line, I'm patiently waiting for a second retracement to this line, to pick a long position with my target intact at 1.3153. If the price can halt around 1.3030, then this will also be a good long place. On the way upwards a key resistance line can be seen around 1.3058, if the price c;early breakout above this resistance, then my expectations of price rising towards 1.3152 will be confirmed.
Technical levels:
Resistance levels
R1: 1.3088
R2: 1.3134
R3: 1.327
Pivot
1.30469
Support Levels
S1: 1.2727
S2: 1.2862
S3: 1.2952
Trade Signal
Wait for price to retrace towards 1.3030 to pick a long position with your take profit fixed at 1.3153 and stop loss slightly below 1.2998

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Imelda Maseno
Analyst of «FreshForex» company
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