Still moving upwards | 08 September 2017
08 September 2017, GBP/USD
Technical Observation:
As I said on Thursday's analysis, Gbp broke out above 1.3016, retraced back to it, just once before continuing long. I went long after the engulfing candle following this breakout and is still holding onto this position. My expectations is that the price should rise even higher towards the resistance line 1.3151. If this resistance is broken, then the price could rise towards 1.3275. According to the 4 hours chart above, long positions still remains more ideal and can safely be recommended towards 1.3151 sell positions can be recommended in case the price is rejected from 1.3151.
Technical levels:
Resistance levels
R3:1.32161
R2:1.31663
R1:1.31321
Pivot
1.30823
Support Levels
S1:1.30481
S2:1.29983
S3:1.29641
Trade Signal
Long towards 1.3151
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.
