place a pending buy limit order around 1.3313 | 28 November 2017
28 November 2017, GBP/USD
Technical Observation:
After a tremendous rise in price almost a fortnight ago, earlier this week, Gbp opened slightly lower than expected but still above a short term support line 1.3313. This is a potential buy line and unless there's a clear breakout below it with a big red candle, I expect a bounce from this line to buy Gbp with my take profit fixed at 1.3607. A breakout below 1.3313, will push the price lower towards the weekly support where there's a definite buy trade for long term traders. My advice, place a pending buy limit order around 1.3313 with your take profit at 1.3607
Technical Levels
Resistance levels
R1: 1.3441
R2: 1.361
R3: 1.3985
Pivot
1.3235
Support Levels
S1: 1.2483
S2: 1.2858
S3: 1.3065
Trade Signal
Rebuy Gbp around 1.3313 with your take profit at 1.3607
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