Short Gbp Now towards 1.3220 | 07 December 2017
07 December 2017, GBP/USD
Technical Observation:
After descending below 1.3366-1.3325, Gbp is currently pulling back to the same zone in a consolidating matter. Unless there's a clear breakout above this zone with a big green candle, I expect a rejection from this zone to short Gbp towards the hourly support line seen at 1.3320. If the price breaks above 1.3366 with a big green candle, then this will be a confirmation that the price will continue to rise towards 1.3540 or even higher. As it is, only a sell position can be advised with a take profit at 1.3320.
Technical Levels
Resistance levels
R1: 1.3406
R2: 1.347
R3: 1.3645
Pivot
1.3296
Support Levels
S1: 1.2947
S2: 1.3121
S3: 1.3232
Trade Signal
Short Gbp Now towards 1.3220
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.
