buy Gbp around 1.3015 | 06 September 2017
06 September 2017, GBP/USD
Technical Observation:
Recently, as I said on Tuesday's analysis, GBp rose almost 130 pips, and even broke out above the 4 hour resistance line 1.3016. This is a bullish signal and could mean bulls are coming in strongly, I expect a bullish rally towards 1.3153, but instead of going long immediately, I'm patiently waiting for a clear retracement to the just broken line, 1.3015 to pick a long position towards 1.3153. On the 4 hour chart above, long positions seems more ideal and can be recommended especially while the line 1.3015 remains intact. If it is broken to the lower side, then I expect a rally towards 1.2915
Technical levels:
Resistance levels
R1: 1.3088
R2: 1.3134
R3: 1.327
Pivot
1.2998
Support Levels
S1: 1.2727
S2: 1.2862
S3: 1.2952
Trade Signal
Wait and buy Gbp around 1.3015 towards 1.3153
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.
