Wait | 24 August 2018
24 August 2018, GBP/USD
Technical Observation:
Last trading day, GBP lost value considerably and is now below 1.2827, while the price is still above the Slow Moving Avarage 152, I expect nothing but a steep rise towards 1.3170. The idea is to wait for a breakout above 1.2925 to confirm a possible rally to the upper side. On its way upwards, the key lines to look for include 1.3065, 1.3100 and 1.3170. On the other side, only a clear break below 1.27 will attract a long term short position with an ideal take profit at 1.2645. As it is, its good to wait.
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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.
