flat | 26 December 2017

26 December 2017, GBP/USD

flat
Technical Observation:
Despite the bullish pin bar seen last Thursday, Gbp hardly close above its daily opening price. I still expect further thrush to the upper side although a little correction to the lower side is expected. As it on the daily chart above, a decline towards 1.3295 is expected before a rise is seen, thus, I would advice remaining flat and only buying Gbp on a rejection from the daily support 1.3295 with a take profit at 1.3535 and the next take profit at 1.36. A breakout below 1.3295 will push the price lower to 1.3145.
Technical Levels
Resistance levels
R1: 1.3506
R2: 1.3632
R3: 1.3851
Pivot
1.3372
Support Levels
S1: 1.2975
S2: 1.3194
S3: 1.3287
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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