Remain long towards 1.3479. | 01 September 2017
01 September 2017, GBP/USD
Technical Observations
Recently, after a rejection from 1.2775, Gbp is currently showing signs it could rise towards 1.3479 in the next couple of weeks. On its way upwards, key lines that could challenge the anticipated upward rally is seen around 1.2967, 1.3103, and 1.3254. If these three lines are clearly broken, then a rise towards 1.3479 will be next ideal move. According to the daily chart above, buy positions seems more ideal and can be recommended especially while the price is above 1.2775. Sell positions can only be recommended on a clear break below 1.2775, or upon a rejection from 1.3479.
Technical levels:
Resistance levels
R1: 1.2835
R2: 1.2868
R3: 1.2931
Pivot
1.29059
Support Levels
S1: 1.2678
S2: 1.2741
S3: 1.2772
Trade Signal
Remain long towards 1.3479.
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.
