Buy GBP around 1.3304 | 21 December 2017
21 December 2017, GBP/USD
Technical Observation:
Even with the bullish pin bar candle seen on Tuesday's daily candle, Wednesday's candle could hardly close above the close of the Tuesday's candle. This is a bearish dominance signal, and could push the price to the lower side towards 1.3304 which is a possible demand line. As it is on the daily chart, intraday traders should remain short towards 1.3304 and then buy Gbp with their take profit at 1.3535. Alternatively, you could wait and buy Gbp around 1.3304 towards 1.3535
Technical Levels
Resistance levels
R1: 1.3506
R2: 1.3632
R3: 1.3851
Pivot
1.34350
Support Levels
S1: 1.2975
S2: 1.3194
S3: 1.3287
Trade Signal
Buy GBP around 1.3304 towards 1.3535
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.
