flat | 26 December 2017
26 December 2017, GBP/USD
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
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.
