Wait for a clear buy signal to long GBP Towards 1.3489 | 29 May 2017
29 May 2017, GBP/USD
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
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.
