Long from 1.3860 | 09 February 2018
09 February 2018, GBP/USD
Technical Observation:
Gbp is currently trading few pips above it's daily pivot line seen at 1.3907. While the price is contained above this pivot line, I expect a momentum towards 1.4640. Earlier today, Gbp pulled back upwards from 1.3860. I expect this to be an onset of a bullish rally with my take profit set 1.4640. On the way upwards, the key lines to look for include 1.4160, 1.4370, and 1.4640. As it is, only a long position can be recommended, but if the price breaks below 1.3860, then I may consider a short position towards 1.3315.
Technical Levels
Resistance levels
R1: 1.3966
R2: 1.4053
R3: 1.4199
Pivot
1.3907
Support Levels
S1: 1.3615
S2: 1.3761
S3: 1.382
Trade Signal
Long from 1.3860 towards 1.4640
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.
