Wait and rebuy GBP around 1.3293 | 27 November 2017
27 November 2017, GBP/USD
Technical Observation:
After the bullish pin bar seen on the weekly chart, Gbp has been trading with an increasing bullish bias momentum and will continue to rise even during this week. The last trading day's candle is a bullish engulfing candle and means the price will continue to rise towards 1.3607 or even higher. As it is on the daily chart and the 4 hour chart above, I'm waiting for a decline towards 1.3293, then buy Gbp towards 1.3607. At the moment, short positions can be recommended.
Technical Levels
Resistance levels
R1: 1.3441
R2: 1.361
R3: 1.3985
Pivot
1.3234
Support Levels
S1: 1.2483
S2: 1.2858
S3: 1.3065
Trade Signal
Wait and rebuy GBP around 1.3293 with your take profit at 1.3607
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.
