Bearish pullback towards 1.2748 | 12 Maio 2017

12 Maio 2017, GBP/USD

Bearish pullback towards 1.2748
Technical Observation
Recently, GBP dropped almost 130pips and could drop further. This drop is a second retracement to the support line 1.2748 where conservative traders should have a pending buy limit order. On the daily chart above, I expect further drop but should be protected from continuing short by the support 1.2748. My advice, wait for the current bearish move to end around 1.2748 then buy GBP towards 1.3489.
Technical levels:
Resistance levels

R1: 1.2896

R2: 1.2907

R3: 1.2924

Pivot Point
1.2889
Support Levels

S1: 1.2854

S2: 1.2871

S3: 1.2878

Trade Signal
Long GBP around 1.2748 towards 1.3489.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Entrar
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.