Long Towards 1.3555 | 08 December 2017
08 December 2017, GBP/USD
Technical Observation:
Recently, Gbp broke out above the upper trend line acting as a resistance to the falling channel. This is a clear bullish dominance signal and unless there's a clear decline below the same trend line to the lower side, I expect a steady rise towards 1.3555 or even higher. As it is, only a long position seems more ideal and advised towards the just said take profit. The key lines to check for on the upper side include 1.3515, 1.3535 and 1.3555. A break above these lines will surge the price further upwards towards 1.40.
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
Long towards 1.4630
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.
