Technical Observation:
GBP continues to oscillate above 1.2774 regardless of our expectation to continue upwards. Unless there’s a clean breach below 1.2723, I’m only interested on long positions towards 1.3489. From the Daily chart above, my previous buy position is still credible. My advice, if you went long upon the retracement towards 1.2774, leave this position open with your SL slightly below 1.2748 and your TP fixed at 1.3489.
Technical levels:
Resistance levels
R1: 1.2781
R2: 1.2783
R3: 1.2788
Pivot Point
1.2779
Support Levels
S1: 1.277
S2: 1.2775
S3: 1.2777
Trade Signal
Long GBP Towards 1.3489
Origin: FreshForex
