Remain long towards 1.3461 | 01 Agustus 2017

01 Agustus 2017, GBP/USD

Remain long towards 1.3461

Technical Observations

As I stated on the previous forecast, Gbp ascended even higher and could rise even further upwards. Unless there's a clear break below 1.3079, I expect an instant rise towards the daily resistance line and even a breakout above to re-buy Gbp towards 1.4673. This is from a bullish perspective, if the price should get rejected from 1.3461 or if the price breaks below 1.3079, then these are the only places I'll consider a short position. On the daily chart above, long position seems more ideal and can be recommended towards 1.3461.

Technical levels:

Resistance levels

R1: 1.3168

R2: 1.3202
R3: 1.3286
Pivot
1.3118
Support Levels
S1: 1.2951
S2: 1.3034
S3: 1.3084
Trade Signal
Remain long towards 1.3461.

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Imelda Maseno
Analyst of «FreshForex» company
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