Flat | 03 November 2017
03 November 2017, GBP/USD
Technical Observation:
Yesterday, the zone 1.3321-1.3295 was used as a key Resistance both on the daily and 4 hour charts. Following the rejection from this zone, the price dropped relentlessly to the lower side but is currently facing a key daily support zone 1.3040-1.3025. This is a key support zone, and unless there's a clear bearish breakout below it, I expect a rejection from it to pick a long position towards 1.3295. On the other side, if the price should go below 1.3025 then I expect further drop in price towards 1.29.
Technical Levels
Resistance levels
R1: 1.1773
R2: 1.1936
R3: 1.2199
Pivot
1.1673
Support Levels
S1: 1.1148
S2: 1.1411
S3: 1.151
Trade Signal
Flat
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.
