Bearish pin bar but still above 1.3038 | 06 Noviembre 2017
06 Noviembre 2017, GBP/USD
Technical Observation:
Last week, Gbp dropped in price and ended up forming a bearish pin bar, but since the price is still above a key weekly support zone 1.3038-1.29358. Unless the price clearly breakout below this zone, I remain hesitant to short GBP, instead, I'm waiting for a rejection from this zone to long Gbp towards 1.4724. If the price can close below it, then I may consider a short position towards 1.21109. On the way downwards, the key lines to look for include 1.2688, and 1.2480.00.
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