16 Agustus 2017, GBP/USD
Technical Obsevertion.
Based on the previous anlysis, Gbp plunged further low but still above the daily support line 1.2725. I'm waiting for a clear retracement towards this support line to buy gbp with my take profit set arounc 1.3461 and stop loss below 1.2572. If this support is broken, then I'll wait for pullback to the just broken line to pick a short position towards 1.2167. You could place a pending buy limit order around 1.2752 just in case the price gets to this support line. This position will be very good for both position and day traders, however, if you're a scalper or intraday trader, look for short positions now towards 1.2752.
Technical levels:
Resistance levels
R3:1.30729
R2:1.30447
R1:1.30086
Pivot
1.29829
Support Levels
S1:1.29446
S2:1.29155
S3:1.28796
Trade Signal
Intraday traders can look for short positions towards 1.2725