Remain flat and wait for a clear buy signal with your take profit at 1.4602 | 20 September 2017
20 September 2017, GBP/USD
Technical Observation:
Since the previous week's candle, Gbp has not made any note able significant move to the upside, instead, there has just been a slight correction to the lower side and may continue short temporarily, as it, I choose to remain flat and wait for the current retracement to end around 1.3303. Then pick a buy position towards 1.4602. As it is, my advice is to remain flat and wait for a clear buy signal. Especially if the price can plummet towards 1.3291, then this will be the best place to place a buy limit order
Technical levels:
Resistance levels
R1: 1.355
R2: 1.3593
R3: 1.3676
Pivot
1.3509
Support Levels
S1: 1.3342
S2: 1.3426
S3: 1.3467
Trade Signal
Remain flat and wait for a clear buy signal with your take profit at 1.4602
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.
