Wait and sell Gbp around 1.2842. | 23 August 2017
23 August 2017, GBP/USD
Technical Obsevertion:
Recently, Gbp broke out below the rising wedge, headed short and even broke below the next support line 1.2842. This is a bearish signal and since the first retracement to the just broken line was an inside bar candle, I expect the price to pullback to this line for the second time to pick a short position. On the 4 hour chart above, short positions looks more ideal and can be recommended. My advice, wait for a pullback towards 1.2842 and pick a short position here.
Technical levels:
Resistance levels
R31.29810
R21.29451
R11.28825
Pivot
1.28466
Support Levels
S11.27840
S21.27481
S31.26855
Trade Signal
Wait and sell Gbp around 1.2842.
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.
