Long GBP towards 1.3489 | 20 April 2017
20 April 2017, GBP/USD
Technical Observation:
As from yesterday, nothing has changed much, in fact, the entire chart set up has aligned it self as expected. Earlier today, the pending buy order we place at 1.2774 was opened but is yet to mature. I will hold onto this position unless the support line 1.2723 is breached, any bearish breach below this level will mean closing this buy order and opting out. My advice, if you had long GBP around 1.2774, leave this position open but place a TP at 1.3489 and a Stop loss below the recent lowest low, 1.2509.
Technical levels: Resistance levels
R1: 1.2841R2: 1.2895
R3: 1.2985
Pivot Point
1.2805
Support Levels
S2:1.2716
S3: 1.2751
Trade Signal
Long GBP now towards 1.3489
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.
