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Buy around 1.3305 towards 1.4597

Buy around 1.3305 towards 1.4597 | 18 Diciembre 2017

18 Diciembre 2017, GBP/USD

Technical Observation:
On the last trading day last week, Gbp fell relentlessly but failed to penetrate below the daily support line 1.3305. This is a clear demand line and while the price is contained above it, I'm only interested in a buy position. Ideally, I expect a clear rejection from this line to pick long term long position with my take profit at 1.4597. Short positions can only be advised in case the price goes clearly below 1.3305, and even then, I'll wait for a break below 1.3289 to confirm a rally towards 1.3054.
Technical Levels
Resistance levels
R1: 1.3506
R2: 1.3632
R3: 1.3851
Pivot
1.3413
Support Levels
S1: 1.2975
S2: 1.3194
S3: 1.3287
Trade Signal
Buy around 1.3305 towards 1.4597

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Imelda Maseno
Analyst of «FreshForex» company
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