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: 1.2947
R2: 1.2988
R3: 1.3066
Pivot Point
1.2911
Support Levels
S1: 1.2754
S2: 1.2832
S3: 1.287
Trade Signal
Bullish towards 1.3489

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Imelda Maseno
Analyst of «FreshForex» company
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