Remain long towards 1.3321. | 12 September 2017
12 September 2017, GBP/USD
Technical Observation:
For almost three weeks in a raw, Gbp has been in a constant up trend and is still showing signs of rising even further. I went long after the first bullish pin bar of the first week and is still holding onto this position. My expectations is that price should rise even further towards the weekly resistance line 1.3321, which is a possible sell line. A breakout above this resistance line could push the price even higher towards 1.4845. If you didn't long Gbp after the initial pin bar, you could wait fora breakout above 1.3321 to pick another buy position.
Technical levels:
Resistance levels
R3:1.32161
R2:1.31663
R1:1.31321
Pivot
1.31170
Support Levels
S1:1.30481
S2:1.29983
S3:1.29641
Trade Signal
Remain long towards 1.3321.
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.
