Long towards 1.4528 | 05 February 2018
05 February 2018, GBP/USD
Technical Observation:
Since bouncing off from the lower supportive trend line, Gbp has been in an active up trend and is still very bullish on almost all the time frames. I expect a surge towards 1.4525 or even a breakout to continue upwards. As it is on the weekly chart above, I choose to remain long with my first take profit at 1.4355 and the next at 1.4528. . On the other side, if the price should break below 1.4113, then I may consider a short position towards 1.3485.
Technical Levels
Resistance levels
R1: 1.4305
R2: 1.4728
R3: 1.4275
Pivot
1.4127
Support Levels
S1: 1.3528
S2: 1.3825
S3: 1.3975
Trade Signal
Long towards 1.4528
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.
