Rebuy Gbp around 1.2761 | 31 Agustus 2017

31 Agustus 2017, GBP/USD

Rebuy Gbp around 1.2761

Technical Observation:
Despite the previous forecast that Gbp could rise towards 1.3337, Gbp continues to rally even lower. This downward rally is a retracement to the lower side towards 1.2761 where I have a pending buy limit order, If you din't long this pair on the first retracement to this line, then this will be the most ideal place to pick a long position with your take profit at 1.3337 and stop loss slightly below 1.2627. On the way upwards, key resistance lines to check for include 1.2927, 1.3222 and 1.3337. If these resistance lines are broken, then this will push the price further upwards towards 1.34.
Technical levels:
Resistance levels
R31.30082
R21.29733
R11.29480
Pivot
1.29131
Support Levels
S11.28878
S21.28529
S31.28276
Trade Signal
Wait and rebuy Gbp around 1.2761

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Imelda Maseno
Analyst of «FreshForex» company
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