Long within the rising channel | 19 May 2017
19 May 2017, GBP/USD
Technical Observation:
Recently, GBP entered into a range only rallying within the rising wedge. On the 4 Hour chart above, buy positions seems lucrative within the rising channel, however, any clear bearish breach below the lower trend line will signify a breakout and may push the price lower. My advice, unless there's a clear bearish breach below the lower trend line, remain long, a breach below this trend line will push the price to the lowerside..
Technical levels: Resistance levels
R2: 1.2961
R3: 1.297
Pivot Point 1.2953
Support Levels
S1: 1.2936S2: 1.2944
S3: 1.2949
Trade Signal Long 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.
