Intraday traders should look for a short position around 1.3400. | 26 September 2017
26 September 2017, GBP/USD
Technical Observation
Recently, instead of a rejection 1.3400, Gbp went slightly to the upperside before breaking below 1.3400 with a big red candle. Now that the price is below this line, I'm waiting for a rejection from this line to short Gbp towards 1.3395. If the price gets back above 1.3400, than I may consider a long position towards 1.3593. A bearish positions looks good only on the hourly and the 4 hour charts, if you look at the higher time frames, daily and weekly, Gbp could still rise come next week towards 1.3600 or even higher
Technical levels:
Resistance levels
R1: 1.3625
R2: 1.3746
R3: 1.3954
Pivot
1.3530
Support Levels
S1: 1.3123
S2: 1.3331
S3: 1.3417
Trade Signal
Intraday traders should look for a short position around 1.3400.
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.
