Remain long towards 1.3489 | 25 May 2017
25 May 2017, GBP/USD
Technical Observation
Recently, GBP got rejected from the lower trend line acting as the bottom of the rising channel and is currently rallying above it. Unless this trend line is clearly breached to the lower side, I expect a rise towards 1.3044 and further up towards 1.3489. On the 4 Hour chart above, buy positions seems ideal towards 1.3489. My advice, if you went long following the rejection lower trend line, leave this position open towards the trend line.
Technical levels:
Resistance levels
R1: 1.3004R2: 1.3038
R3: 1.311
Pivot Point
1.2965
Support Levels
S1: 1.2821S2: 1.2893
S3: 1.2931
Trade Signal
Remain 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.
