Look for a short position around 1.3277 | 13 October 2017
13 October 2017, GBP/USD
Technical Observation:
Gbp continues to rise but is showing signs of getting exhausted upon reaching the 4 hour resistance line 1.3277. Today, I'm patiently waiting for a sell signal around this line, but if the price rise above it, the the price can continue rising towards 1.3465 or even higher to 1.355. As it is on the 4 hour chart above, I can only recommended a short position around 1.3277 with a take profit at 1.3060.
Technical Levels
Resistance levels
R1: 1.3305
R2: 1.3542
R3: 1.3917
Pivot
1.3166
Support Levels
S1: 1.2415
S2: 1.2791
S3: 1.2929
Trade Signal
Look for a short position around 1.3277
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.
