Long Gbp now towards 1.3576 | 20 November 2017
20 November 2017, GBP/USD
Technical Observation:
Gbp is currently trading with an increasing bullish momentum. Last week's candle is a perfect bullish continuation candle and signals bullish dominance. I expect a rise in price of this pair with my first take profit at 1.3576. My advice, if you're a bit skeptic to Gbp earlier this week, you could wait for a breakout above the upper trend line acting as a resistance to the rising wedge formation then long it towards 1.3576. As it is, only a buy position can be recommended towards 1.3576.
Technical Levels
Resistance levels
R1: 1.3224
R2: 1.3253
R3: 1.3327
Pivot
1.318
Support Levels
S1: 1.3032
S2: 1.3106
S3: 1.315
Trade Signal
Long Gbp now towards 1.3576 with your stop loss below last week's lowest low.
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.
