waiting for a sell signal | 25 October 2017
25 October 2017, GBP/USD
Technical Observation:
After a drastic drop in price yesterday. Gbp is currently recovering slightly to the upper side but in peanuts. Gbp is still very bearish and buying Gbp now cannot be recommended. As it is, I'm waiting for a clear sell signal to short Gbp with my take profit fixed at 1.300. On the way downwards, the key lines to look for include 1.3038, 1.3113, and 1.316. If these lines are breached, then a drop towards 1.30 is more ideal. On the other side, if the price gets above 1.3165, then I may consider a long position towards 1.3225
Technical Levels
Resistance levels
R1: 1.3235
R3: 1.3262
R3: 1.3336
Pivot
1.3189
Support Levels
S1: 1.3038
S2: 1.3113
S3: 1.316
Trade Signal
waiting for a sell signal.
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.
