Bulls in control | 14 September 2017
14 September 2017, GBP/USD
Technical Observations
After bouncing from the daily support line 1.2773, Gbp has traded with an increasing bullish bias and is still showing signs it could rise even further. If your went long around 1.2773 following the rejection from this line, leave this position open with your take profit still intact at the next daily resistance line 1.3472. If resistance is broken, then another rise towards 1.5055 will be the next ideal move. Should the price get rejected around 1.3472, then it will be wise to look for short positions around this line towards 1.2773. As it is, only long positions can safely be recommended towards 1.3472
Technical levels:
Resistance levels
R1: 1.3333
R2: 1.338
R3: 1.3508
Pivot
1.3252
Support Levels
S1: 1.2995
S2: 1.3123
S3: 1.3205
Trade Signal
Day traders should remain long towards 1.3472. Intraday traders should wait for pullbacks to pick long positions with take profits set at 1.3472.
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.
