Long from 1.2722 towards 1.3489 | 21 April 2017
21 April 2017, GBP/USD
Technical Observation:
Recently, after breaking above 1.2774, GBP is still retracing towards my pending buy limit line 1.2723. From the daily chart shown above, the intraday trend bearish, but rather than going short, I will re-buy this pair should the price retrace back towards 1.2723. with this long position, I will place my ST at 1.2330 and my TP at 1.3489. The long term trend is bullish and sticking to long term trends is much safer.
Technical levels: Resistance levels
R1:1.2821
R2:1.2827
R3:1.2843
Pivot Point 1.2811
Support Levels
S1: 1.2778S2: 1.2795
S3: 1.2805
Trade Signal
Long from 1.2722 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.
