Wait for a pullback towards 1.2762 to long Gbp towards1.2962 | 28 June 2017
28 June 2017, GBP/USD
Technical Observation
Recently, a breakout was seen when Gbp rose above the 4hour resistance line 1.2762 and is still above. This is a sign that bulls could be in control but instead of going long immediately, I'm waiting for a pullback to the just broken line, 1.2762 to buy Gbp towards 1.2962. On the 4 hour chart above, long positions seems more ideal unless 1.2762 is clearly breached to the lower side with a big red candle.
Technical levels:
Resistance levels
R1: 1.2877R2: 1.2941
R3: 1.3085
Pivot
1.2798
Support Levels
S2: 1.2654
S3: 1.2733
Trade Signal
Wait for a pullback towards 1.2762 to long Gbp towards1.2962
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.
