Flat | 22 September 2017
22 September 2017, GBP/USD
Technical Observation:
According to the other day's analysis, Gbp failed to penetrate below the support line 1.3475, rather there was a rejection from this line that gave me a chance to pick a long position towards 1.3500. Unless there's a clear breakout above the 4 hour resistance line 1.3500 with a big green candle, I choose to remain flat temporarily and wait for a breakout above to pick a long position, or a rejection to short Gbp towards 1.3475. If you didn't go long around 1.3475, you could wait for a breakout above 1.3590 to pick a long position.
Resistance levels
R1: 1.3625
R2: 1.3746
R3: 1.3954
Pivot
1.3536
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.
