Remain long towards 1.4613 | 19 September 2017
19 September 2017, GBP/USD
Technical Observations
Last week, A big bullish breakout was seen when Gbp broke out above the weekly resistance line 1.3291 with a big green candle. Gbp is still very much bullish and could rise further towards 1.4613, however, momentarily, I'm waiting for a minor pullback to the just broken line to pick a long position towards 1.4613. On the way upwards key resistance lines can be seen around 1.3679, 1.4108, and 1.4602. If these lines are broken, then a rise above 1.4613 is expected. As it, minor retracements to the lower side will provide good buy slots.
Resistance levels
R1: 1.3674
R2: 1.3758
R3: 1.3983
Pivot
1.3533
Support Levels
S1: 1.3083
S2: 1.3308
S3: 1.3449
Trade Signal
Remain long towards 1.4613.
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.
