Sell Gbp around 1.3474 with your take profit at 1.3200
Sell Gbp around 1.3474 with your take profit at 1.3200 | 27 September 2017
27 September 2017, GBP/USD
Technical Observation
After breaking below the support line 1.3474, Gbp merely tested this level but failed to remain above it. This is a possible bearish momentum developing. As unless there's a clear breakout above this line, I expect a drop in price towards the daily support line 1.3200 and could continue even lower. If you didn't go short on the first retracement towards 1.3474, then you, you could wait for a second pullback to this line to pick a short position with your take profit at 1.3200.
Technical levels:
Resistance levels
R1: 1.3513
R2: 1.3566
R3: 1.3671
Pivot
1.3461
Support Levels
S1: 1.3251
S2: 1.3356
S3: 1.3408
Trade Signal
Sell Gbp around 1.3474 with your take profit at 1.3200
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