08 tháng Tám 2017, GBP/USD
Technical Observation
Yesterday, Gbp pullback slightly to the lower side but still above the short term support line 1.3022. From a wider point of view, Gbp could still rise, thus, I remain bullish here unless the support line 1.3022 is clearly breached to the lower side with a big red candle. In the meantime, I'm waiting for a breakout above the previous day's highest high 1.3059 to confirm a rally towards 1.3461. If the short term support line 1.3022 is broken, then I expect a decline towards the daily support line 1.2752. This support is a key daily support line and if price pulls back to it, then this is an ideal place to long gbp towards 1.3461.
Technical levels:
Resistance levels
R3: 1.31031
R2: 1.30813
R1: 1.30571
Pivot
1.30353
Support Levels
S1: 1.30111
S2: 1.29893
S3: 1.29651
Trade Signal
Remain flat but wait for a break above 1.3059 to long gbp towards 1.3461. A break below 1.3022 will call for short positions towards 1.2752.