Flat | 06 July 2017
06 July 2017, GBP/USD
Technical Observation
Gbp failed to sustain the breakout below the neckline, 1.2922, instead, the price oscillated below 1.2922 for a couple of hours and then back above. I'm flat temporarily waiting for a clear breakout below 1.2922 to continue short towards 1.2819. On the hourly chart above, Gbp looks a bit bullish, but from the double top point of view formation, I expect a drop towards 1.2819 upon a clear break below 1.2922.
Technical levels:
Resistance levels
R1: 1.2942R2: 1.2951
R3: 1.2972
Pivot
1.2931
Support Levels
S1: 1.289S2: 1.2911
S3: 1.2922
Trade Signal
Flat
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
