11 августа 2017, GBP/USD
Technical Observation
Gbp is currently trading slightly below its daily pivot line 1.29801. Since the previous forecast, nothing has charged much, I still expect a decline in price towards the daily support line 1.2752. If you're an intraday trader, you could short this pair now and have your take profit around 1.2752, however, if you're a day trader or position trader, you could wait and buy Gbp on a rejection from 1.2752 with your take profit at 1.3461 and stop loss slightly below 1.2578. If the support line 1.2752 is broken clearly to the lower side, then further decline towards 1.2167 is likely.
Technical levels:
Resistance levels
R3:1.30728
R2:1.30444
R1:1.30085
Pivot
1.29801
Support Levels
S1:1.29442
S2:1.29158
S3:1.28799
Trade Signal
Short Gbp towards 1.2752. Or wait and long Gbp around 1.2752 towards 1.3461
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