Remain long towards 1.3461 | 01 August 2017
01 August 2017, GBP/USD
Technical Observations
As I stated on the previous forecast, Gbp ascended even higher and could rise even further upwards. Unless there's a clear break below 1.3079, I expect an instant rise towards the daily resistance line and even a breakout above to re-buy Gbp towards 1.4673. This is from a bullish perspective, if the price should get rejected from 1.3461 or if the price breaks below 1.3079, then these are the only places I'll consider a short position. On the daily chart above, long position seems more ideal and can be recommended towards 1.3461.
Technical levels:
Resistance levels
R1: 1.3168
R2: 1.3202
R3: 1.3286
Pivot
1.3118
Support Levels
S1: 1.2951
S2: 1.3034
S3: 1.3084
Trade Signal
Remain long towards 1.3461.
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.
