Remain long towards 1.4659 | 02 November 2017
02 November 2017, GBP/USD
Technical Observation:
Nothing appears to have changed much since the other day's analysis. Following the bounce from the support line 1.3125, I still expect a rise towards 1.4659 or even higher. On the way upwards, the key lines to check for include 1.3591, 1.4097 and 1.4616, if these lines are successfully broken, then further rise towards 1.4659 is expected. As it is on the weekly chart above, only a buy trade can be recommended with a take profit fixed at 1.4659. I will also reconsider a short position but only if the price go below 1.3007.
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 long towards 1.4659
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.
