Short GBP around 1.2747 towards 1.2555 | 12 June 2017

12 June 2017, GBP/USD

Short GBP around 1.2747 towards 1.2555

Technical Observation

Following the gap below 1.2747, I went short following the second retracement to the just broken daily key line 1.2747 and is still holding onto this position. On the 4 Hour chart above, Unless this line is clearly breached with a big red candle, I expect a decline towards 1.2555. If you din't go short on the first retracement to the same line, wait for a pullback to the same line to short GBP towards 1.2555.

Technical levels:

Resistance levels

R1: 1.2928

R2: 1.2945

R3: 1.3052

Pivot Point

1.2880

Support Levels

S1: 1.2708

S2: 1.2794

S3: 1.2841

Trade Signal

Short towards 1.2555

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.

Anjara

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Imelda Maseno

Analyst of «FreshForex» company

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