Still very bullish | 29 November 2017

29 November 2017, GBP/USD

Still very bullish
Technical Observation:
On the weekly chart above, a bullish pin bar is in a formation. As I said earlier, gbp is in the rise and should continue to gain value with an ultimate take profit at 1.3607. As it is on the higher time frames, Gbp is bullish and only a buy position can be advised. Should the price breaks above the upper resistance trend line, then a rise towards 1.3607 is highly anticipated. I choose to remain long unless the price breaks below 1.3313 with a big red candle, as it is, only a buy position looks ideal.
Technical Levels
Resistance levels
R1: 1.3441
R2: 1.361
R3: 1.3985
Pivot
1.3234
Support Levels
S1: 1.2483
S2: 1.2858
S3: 1.3065
Trade Signal
Remain long towards 1.3607

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Imelda Maseno
Analyst of «FreshForex» company
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