03 августа 2017, GBP/USD
Technical Observations
As per the previous analysis, Gbp rose slightly to the upper side but is still showing signs it could rise even further. Today, I expect a rise towards the daily resistance line 1.3461 and even a breakout. If this is the case, then I expect further bullish move towards the nest resistance line 1.4673. According to the daily chart above, long positions looks more ideal, however, if the price gets below the short term support line 1.3027 or if the price is rejected from 1.3461, then these will be the best places to short Gbp.
Technical levels:
Resistance levels
R1: 1.33122
R2: 1.32823
R3: 1.32506
Pivot
1.32207
Support Levels
S1: 1.31890
S2: 1.31591
S3: 1.31274
Trade Signal
Wait and re-buy Gbp around 1.3027 towards 1.3461.
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