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Only buy Gbp around 1.2752

Only buy Gbp around 1.2752 | 15 August 2017

15 August 2017, GBP/USD

Only buy Gbp around 1.2752

Technical Observation

According to the daily chart above, Gbp should plummet further towards the daily support line 1.2752 where I've placed a pending buy limit order. From this chart, sell positions still look more ideal especially while the price has not breached the support line 1.2752, if this support can be broken, then the price could fall further towards 1.2167. A rejection from 1.2752 will call for a long positions towards 1.3461. My advice, conservative traders should have a pending buy limit order fixed around 1.2752 with a take profit at 1.3461.

Technical levels:

Resistance levels

R3:1.30728

R2:1.30444

R1:1.30085

Pivot

1.29825

Support Levels

S1:1.29442

S2:1.29158

S3:1.28799

Trade Signal

Place a pending Buy limit order around 1.2752 with a TP at 1.3461.

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Imelda Maseno
Analyst of «FreshForex» company
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