Long GBP around 1.2768 towards 1.3437 | 15 May 2017
15 May 2017, GBP/USD
Technical Observation
Recently, GBP rose above a key resistance line 1.2768, retraced back to it for the first time and is showing possible signs of retracing back to it. I expect a possible rest of this level to re-buy GBP towards 1.3437. On the daily chart above, a drop towards 1.2768 is still expected, thus, I've placed a pending buy limit around 1.2768 just incase the price gets back to this. My advice, wait and long GBP around 1.2768 towards 1.3437
Technical levels:
Resistance levels
R1: 1.3014
R2: 1.3037
R3: 1.3089
Pivot Point
1.2963
Support Levels
S1: 1.2866S2: 1.2888
S3: 1.294
Trade Signal
Long GBP around 1.2768 towards 1.3437
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.
