Flat but waiting for a buy signal | 15 Desember 2017

15 Desember 2017, GBP/USD

Flat but waiting for a buy signal
Technical Observation:
Despite the bearish pin bar seen almost three days ago, Gbp failed to penetrate below the daily support zone 1.3304-1.3283. This is a possible bullish dominance indications and while the price is above 1.3304-1.3283, only a buy position looks more ideal. I expect another pullback to this support to pick a low risk buy opportunity with my take profit still fixed at 1.3585. If this zone is breached with a big red candle, then I expect a decline towards 1.2805 and may break even lower to 1.2625.
Technical Levels
Resistance levels
R1: 1.3407
R2: 1.3466
R3: 1.3655
Pivot
1.3456
Support Levels
S1: 1.2963
S2: 1.3156
S3: 1.3212
Trade Signal
Re-ruy Gbp around 1.3304-1.3283 towards 1.3585

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Imelda Maseno
Analyst of «FreshForex» company
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