Flat | 19 October 2017
19 October 2017, GBP/USD
Technical Observation:
Yesterday, Gbp pulled back slightly to the upper side but is still below the resistance line 1.3302. Unless there's a clear bullish breakout above this resistance line, a rejection from this resistance is highly expected. Thus, I'm still hesitant to long Gbp rather, I'm waiting for a rejection from this line to short Gbp towards 1.2728, if this resistance is broken, then the price will likely continue upwards towards 1.4835. On the way upwards, key resistance lines can be seen at 1.3759, 1.3496 and 1.3391.
Technical Levels
Resistance levels
R1: 1.3391
R2: 1.3496
R3: 1.3759
Pivot
1.3235
Support Levels
S1: 1.2707
S2: 1.297
S3: 1.3128
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.
