Flat | 21 September 2017
21 September 2017, GBP/USD
Technical Observation:
Since September 14th, Gbp continues to consolidate within a tight range; not going above 1.3500 or below 1.3475. Unless there's a clear break out of this range, I choose to remain flat or trade reversals . If a break to the lower side is seen, then the price could plummet towards 1.3198. A breakout to the upper side will push the price upside with my take profit fixed at 1.3700. As it is, if you're not flat, then you should focus on trading reversals and if the price breaks out of this range, then enter a trade depending on the direction of breakout.
Technical levels
Resistance levels
R1: 1.3625
R2: 1.3746
R3: 1.3954
Pivot
1.3538
Support Levels
S1: 1.3123
S2: 1.3331
S3: 1.3417
Trade Signal
Flat
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.
