Buy arounc 1.3311 towards 1.4510 | 27 December 2017
27 December 2017, GBP/USD
Technical Observation:
Since touching the weekly support line 1.1552 in October 2nd 2016, Gbp has made higher highs consecutively and has remained confined above the rising supportive trend line. Recently, gbp successfully broke above the short term resistance line 1.3311 and is still above it, I'm still bullish here. I expect a rise towards the next weekly resistance line 1.4510. Unless the p[rice breakouts below the lower trend line with a big red candle, chances of continuing upwards are very higher. Thus, at the moment, I remain long.
Technical Levels
Resistance levels
R1: 1.3418
R2: 1.3475
R3: 1.3588
Pivot
1.3363
Support Levels
S1: 1.3139
S2: 1.3251
S3: 1.3306
Trade Signal
Buy around 1.3311 towards 1.4510
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.
