Bulls fully charged | 01 December 2017
01 December 2017, GBP/USD
Technical Observation:
As I said earlier this week, Gbp has risen and is still very bullish both on the lesser and the higher time frames. I expect further rise with my take profit still fixed at 1.3595. If the price can breakout above this line, then further rise towards 1.4650 is expected. As it is, I'm only long towards 1.3595 can be recommended where I expect a bounce or a clear rejection. On the way upwards, the key lines to look for include 1.3600, 1.3610, 1.3985. a breakout above these lines will push the price much higher towards 1.4650.
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
Still long with my take profit at 1.3594
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.
