Long towards 1.3397 | 16 November 2017
16 November 2017, GBP/USD
Technical Observation:
After bouncing from the 4 hour support line 1.3049, Gbp has been in a constant up trend and could continue to rise. Today, I expect Gbp to trade within a tight range, not going above 1.3397, or below 1.3049, if the price break above or below this range, then I expect the price continue towards the direction of breakout. On the 4 hour chart above, I expect a rise in price towards 1.3397 where I expect a rejection to pick a short position . My advice, if you went long around 1.3049, leave this position open towards 1.3397.
Technical Levels
Resistance levels
R1: 1.3185
R2: 1.3197
R3: 1.3217
Pivot
1.3177
Support Levels
S1: 1.3136
S2: 1.3156
S3: 1.3165
Trade Signal
Long towards 1.3397
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.
