Rebuy Gbp around 1.3302 | 04 January 2018
04 January 2018, GBP/USD
Technical Observation:
Yesterday, Gbp shaded almost 50% the value it gained earlier this week. This is a possible indication of increase in bears thus, I expect further decline even today, but should be supported around 1.3500, if this support is broken, then the price could plummet further towards 1.3302. As it on the weekly chart above, if you are not long already, you could wait and rebuy Gbp upon a rejection from 1.3302, if the price breaks below it with a big red candle, then a short position towards 1.153 will be ideal.
Technical Levels
Resistance levels
R1: 1.3586
R2: 1.3659
R3: 1.3778
Pivot
1.354
Support Levels
S1: 1.3301
S2: 1.3421
S3: 1.3466
Trade Signal
Wait and rebuy Gbp around 1.3302
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.
