Long towards 1.3489 | 10 May 2017

10 May 2017, GBP/USD

Long towards 1.3489
Technical Observation
GBP continues to consolidate above 1.2748 but should head straight towards 1.3489. On the daily chart above, unless there's a clear bearish breach below 1.2748, I expect a positive move to the upper side towards 1.3489 and may breakout above. At the moment, there could be a second retracement towards 1.2748 to give a second chance to re-buy GBP at the minimal risk. My advice, if you went long during the first pullback towards 1.2748, leave this position open.
Technical levels:
Resistance levels
R1: 1.2975
R2: 1.3009
R3: 1.3066
Pivot Point
1.2952
Support Levels
S1: 1.2839
S2: 1.2896
S3: 1.2918
Trade Signal
Long towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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