02 Agustus 2017, GBP/USD
Technical Observations
Gbp is currently 16 pips above it's daily pivot line 1.3216. Yesday, Gbp pulled back slightly to the lowerside and could pullback even further. I've placed a pending buy limit order around 1.3027just in case the price pullsback to this line. My expectations are that, the price should spike upwards towards the daily resisatance line 1.3461 and could break even higher. If this resistance line is broken, then I expect further rise towards 1.4673. A key support line can be seen around 1.2752, if the price pullback to this line, then this will offer the best place to long Gbp towards 1.3461.
Technical levels:
Resistance levels
R1: 1.3234