Flat | 13 December 2017
13 December 2017, GBP/USD
Technical Observation:
From a different point of view, Gbp is currently rallying within a rising wedge formation. Unless the price clearly breaks below the lower trend line, I expect further rise towards 1.4060 or even higher. On the way upwards, the key lines to look for include 1.3800, 1.4325, and lastly 1.4590, if these lines are broken, then a spike towards 1.5640 is expected. As it is on the weekly chart above, I expect a decline towards the lower trend line to rebuy Gbp, should the price break below the lower trend line, then a drop towards 1.1955 is expected.
Technical Levels
Resistance levels
R1: 1.3407
R2: 1.3466
R3: 1.3655
Pivot
1.3325
Support Levels
S1: 1.2963
S2: 1.3156
S3: 1.3212
Trade Signal
Flat
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.
