Remain flat and wait for a clear buy signal with your take profit at 1.4602
Remain flat and wait for a clear buy signal with your take profit at 1.4602 | 20 September 2017
20 September 2017, GBP/USD
Technical Observation:
Since the previous week's candle, Gbp has not made any note able significant move to the upside, instead, there has just been a slight correction to the lower side and may continue short temporarily, as it, I choose to remain flat and wait for the current retracement to end around 1.3303. Then pick a buy position towards 1.4602. As it is, my advice is to remain flat and wait for a clear buy signal. Especially if the price can plummet towards 1.3291, then this will be the best place to place a buy limit order
Technical levels:
Resistance levels
R1: 1.355
R2: 1.3593
R3: 1.3676
Pivot
1.3509
Support Levels
S1: 1.3342
S2: 1.3426
S3: 1.3467
Trade Signal
Remain flat and wait for a clear buy signal with your take profit at 1.4602
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