Remain long towards 1.3016 | 04 September 2017
04 September 2017, GBP/USD
Technical Observation:
After breaking above 1.2915, a false break below was seen when price tried descending below 1.2915 but ended up back above. I went long after the third pullback towards 1.2915 and is still holding onto this positions. My expectations is that price should rise even further towards 1.3016 and could breakout even further. On the way upwards a key resistance can be seen around 1.2961, if this resistance is broken, the Gbp could rise towards 1.3016 and may even breakout above. According to the 4 hour chart above, buy position looks more ideal and can safely be recommended towards 1.3016
Technical levels:
Resistance levels
R31.30082
R21.29733
R11.29480
Pivot
1.29232
Support Levels
S11.28878
S21.28529
S31.28276
Trade Signal
Remain long towards 1.3016
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.
