Buy Gbp around 1.2941 | 07 November 2017
07 November 2017, GBP/USD
Technical Observation:
Despite the bearish pin seen last week, Gbp continues to rise upwards and will continue to rise. Beneath the close of this pin, is a key support line 1.2941, and unless there's clear breakout below it, I expect this line to shield any penetration. Thus, If the price can drop perfectly to this line, then this will be a good place to long Gbp towards 1.3460. My advice, remain flat and buy Gbp around 1.2941.
Technical Levels
Resistance levels
R1: 1.3736
R2: 1.4075
R3: 1.4829
Pivot
1.3323
Support Levels
S1: 1.1812
S2: 1.2566
S3: 1.2982
Trade Signal
Buy Gbp around 1.2941 towards 1.3490.
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.
