24 July 2017, GBP/USD
Technical Observation
Despite the previous forecast that Gbp could defend the rise above the weekly resistance line 1.3039, instead, Gbp failed to sustain this breakout and now right below it. Despite this drop, gbp is still bullish especially on the weekly chart, in fact, the previous week's candle is a bullish inside bar, meaning the price could trade even higher; but only after a break above 1.3039, should this be the case, then the price could still rise further towards 1.3461. On the daily chart, I'm waiting for a second attempt break above 1.3039 to pick a long position
Technical levels:
Resistance levels
R1: 1.2983