08 Mei 2017, GBP/USD
Technical Observation:
Recently, GBP broke above itsthree-day consolidation zone 1.2956-1.2864 and is still rallying above it. I expect a bullish price rally towards 1.3455 unless there’s a clean bearish breach below 1.2749. On the daily chart above, I’m good to remain long with my TP fixed at 1.3455. My advice, if you went long following the first retracements towards 1.2749, leave this position open, however, if the pair can retrace back to 1.2749 then it will be the best place to rebuy GBP with TP fixed at 1.3455 and SL below 1.2749.
Technical levels:
Resistance levels
R1: 1.2986
R2: 1.299
R3: 1.3003
Pivot Point
1.2977
Support Levels
S1: 1.2951
S2: 1.2964
S3: 1.2973
Trade Signal
Long GBPtowards 1.3455