Look for a buy position within 1.3157-1.3087 towards 1.3484 | 23 October 2017
23 October 2017, GBP/USD
Technical Observation:
After stretching slightly to the lower side, Gbp pulled back to the upper side and ended up above 1.3157, Friday's candle is a perfect bullish pin bar, and could push the price upwards towards 1.3484. that said, unless the price clearly breaks below 1.3157, I expect a rejection from this line to buy Gbp with my take profit at 1.3484. On the upside, the key lines to check for include 1.3283, 1.3441 and 1.3577. If the price should break beyond these lines, then it could rise higher.
Technical Levels
Resistance levels
R1: 1.3235
R3: 1.3262
R3: 1.3336
Pivot
1.3187
Support Levels
S1: 1.3038
S2: 1.3113
S3: 1.316
Trade Signal
Look for a buy position within 1.3157-1.3087 towards 1.3484
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.
