GBPUSD Technical Analysis Report for the Week Ahead – 08/10/2017
Daily Chart (1.3061)
It’s the continuation of the previous GBPUSD report. As per the daily GBPUSD chart, we can observe that the currency pair is trading near its support and near its lower trend line. The currency pair is also trading near its long term moving average and lower CG channel providing major support to the currency pair at the current price levels. So, purely on the basis of technical analysis, we are expecting this currency pair to appreciate from its current levels in the next few days.
As per the technical analysis our strategy for the next week should be:
Buy at 1.3025, Stop at 1.2990 and Target at 1.3267, 1.3603, 1.3640 Buy at 1.2960, Stop at 1.2925 and Target at 1.3033, 1.3267, 1.3603, 1.3640 Sell below 1.2920, Stop at 1.2955 and Target at 1.2773, 1.2652, 1.2194, 1.2135 Buy at 1.2650, Stop at 1.2615 and Target at 1.2773, 1.2960, 1.3033, 1.3267, 1.3603 Sell below 1.2615, Stop at 1.2655 and Target at 1.2194, 1.2135