09 Oktober 2017, GBP/USD
Technical Observation:
Gbp continues to plummet despite the previous analysis that it was to remain above 1.3454. As it is, the bulls are in complete dominance in this pair, thus, only a short position can safely be recommended towards the daily support 1.2758. if this support is broken, then the price could drop even further towards 1.2098. On the way downwards, the key support lines can be seen at 1.2950, 1.2758 and ultimately 1.2098. If the price breaks below these lines, then the price could plummet up to 1.20.
Technical Levels
Resistance levels
R1: 1.3211
R2: 1.3302
R3: 1.3445
Pivot
1.3159
Support Levels
S1: 1.2874
S2: 1.3017
S3: 1.306
Trade Signal
Still short towards 1.2758