Long towards 1.4630 | 04 Desember 2017

04 Desember 2017, GBP/USD

Long towards 1.4630
Technical Observation:
As I said last week, Gbp rose relentlessly to the upper side but is currently stagnating along a short term resistance line 1.3473. Gbp is still very bullish even on the higher time frames, thus, I expect a rise towards 1.42 or even higher. On the way upwards the key lines to look for include 1.3667, 1.4103 and ultimately 1.4630. If these line are breached, then further rise towards 1.45 is expected. I cannot recommend any sell position at moment. But if the price can close below 1.3059, then further decline is expected
Technical Levels
Resistance levels
R1: 1.3406
R2: 1.347
R3: 1.3645
Pivot
1.3296
Support Levels
S1: 1.2947
S2: 1.3121
S3: 1.3232
Trade Signal
Long towards 1.4630

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Imelda Maseno
Analyst of «FreshForex» company
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