Remain long towards 1.3593 | 01 November 2017
01 November 2017, GBP/USD
Technical Observation:
After bouncing from the support zone 1.3103-1.3010, Gbp has been in an up trend, but is yet to pick an active momentum to the underside. I'm waiting for a clear buy signal to buy Gbp towards 1.3593 or even higher. On the way upwards, the key lines to look for include 1.3335, 1.3485 and lastly 1.3593. If these lines are broken, then further rise towards 1.4775 is highly anticipated. As it is, only a long position can be recommended, and if you didn't go long around 1.3103-1.3010, look for a long position towards 1.3593.
Technical Levels
Resistance levels
R1: 1.3249
R2: 1.337
R3: 1.358
Pivot
1.3161
Support Levels
S1: 1.2739
S2: 1.295
S3: 1.3039
Trade Signal
Remain long towards 1.3593
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.
