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Long GBP around 1.2768 towards 1.3437

Long GBP around 1.2768 towards 1.3437 | 15 May 2017

15 May 2017, GBP/USD

Long GBP around 1.2768 towards 1.3437
Technical Observation
Recently, GBP rose above a key resistance line 1.2768, retraced back to it for the first time and is showing possible signs of retracing back to it. I expect a possible rest of this level to re-buy GBP towards 1.3437. On the daily chart above, a drop towards 1.2768 is still expected, thus, I've placed a pending buy limit around 1.2768 just incase the price gets back to this. My advice, wait and long GBP around 1.2768 towards 1.3437
Technical levels:
Resistance levels
R1: 1.3014
R2: 1.3037
R3: 1.3089
Pivot Point
1.2963
Support Levels
S1: 1.2866
S2: 1.2888
S3: 1.294
Trade Signal
Long GBP around 1.2768 towards 1.3437

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Imelda Maseno
Analyst of «FreshForex» company
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