Remain long towards 1.3335. | 20 December 2017
20 December 2017, GBP/USD
Technical Observation:
Recently, the supportive zone 1.3336-1.3283 held true as key support on the daily chart. Unless the price clearly breaks below 1.3306-1.3283 with a big red candle, I expect a growth to the upper side with my first take profit at 1.3355. If this line is breached, then further rise expected with the next take profit being 1.40. On the other side, if the price should go below 1.3306, then I'll wait for breakout below 1.3281 to confirm a possible bearish rally towards 1.3115 or even lower.
Technical Levels
Resistance levels
R1: 1.3506
R2: 1.3632
R3: 1.3851
Pivot
1.3416
Support Levels
S1: 1.2975
S2: 1.3194
S3: 1.3287
Trade Signal
Remain long towards 1.3335.
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.
