Still short towards 1.2758 | 09 Oktober 2017

09 Oktober 2017, GBP/USD

Still short towards 1.2758

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

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Imelda Maseno
Analyst of «FreshForex» company
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