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Wait for a clear buy signal to long GBP Towards 1.3489

Wait for a clear buy signal to long GBP Towards 1.3489 | 29 May 2017

29 May 2017, GBP/USD

Wait for a clear buy signal to long GBP Towards 1.3489
Technical Observation:
Recently, the bears pitched lower but could not penetrate the support line 1.2768. Since this line was my previous buy place, I expect a clear rejection from this line to re-buy GBP towards my initial target at 1.3489. Minor consolidations above this line will act as possible signs that the price is being contained above this line that I should wait for a clear buy signal.
Technical levels:
Resistance levels
R1: 1.3101
R2: 1.3166
R3: 1.3348
Pivot Point
1.2983
Support Levels
S1: 1.2618
S2: 1.280
S3: 1.2919
Trade Signal
Wait for a clear buy signal to long GBP Towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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