Flat | 31 October 2017
31 October 2017, GBP/USD
Technical Observation:
Earlier this week, Gbp rose slightly to the upper side but is still below 1.3341. I expected a drop towards 1.2854, but as it appears, Gbp could rise towards 1.3341, where I'll be looking for a precise sell position with my take profit set at 1.2854. If the price should break below 1.2854, then further drop towards 1.1731 is expected, the key lines to check for on the lower side include 1.2739, 1.2300 and lastly 1.2010. If these lines are breached, then further drop towards 1.1731 is expected.
Technical Levels
Resistance levels
R1: 1.3249
R2: 1.337
R3: 1.358
Pivot
1.316
Support Levels
S1: 1.2739
S2: 1.295
S3: 1.3039
Trade Signal
Remain short or wait and sell around 1.3341
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.
