Bullish towards 1.3489 | 07 June 2017
07 June 2017, GBP/USD
Technical Observation
GBP is currently trading above a key daily support line 1.2747. Unless there's a clear bearish breach below this support line with a red big candle, I expect a rise towards 1.3489. And although the price appears to be stagnating somewhere around 1.2907, I expect it to either spike upwards or continue rising in a consolidating manner. On the daily chart above, buy positions seems more ideal.
Technical levels:
Resistance levels
R1: 1.2947R2: 1.2988
R3: 1.3066
Pivot Point
1.2911
Support Levels
S1: 1.2754S2: 1.2832
S3: 1.287
Trade Signal
Bullish 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.
