Long Gbp at 1.3300 | 24 November 2017
24 November 2017, GBP/USD
Technical Observation:
After a spike to the upper side on Wednesday, Gbp pullback lower the other day but is still above the 4 hour resistance 1.3300. While the price is above this line, I expect an acceleration towards 1.3630 or even higher. As is it on the daily chart above, only a long position can be advised. Intraday traders should therefore be looking for a long position around 1.3300 with their target at 1.3630. Should the price descend below 1.3300, then I expect a decline towards 1.2840.
Technical Levels
Resistance levels
R1: 1.3299
R2: 1.3379
R3: 1.3578
Pivot
1.3181
Support Levels
S1: 1.2783
S2: 1.2982
S3: 1.31
Trade Signal
Long Gbp at 1.3300 with your take profit at 1.3630
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.
