Pin Bar on GBP/USD

Pin Bar on GBP/USD

Yesterday aggressive purchases on GBP/USD were observed. Price Action points to the further growth of the trading instrument. Near the round level of 1.32000, the classic pattern, Pin Bar, (H1 timeframe) was formed. The local resistance is the level of 1.32300. We recommend paying attention to this formation.

If the price fixes above 1.32300, you need to look for entry points to the market to open long positions. The closest target for fixing profit is the level of 1.32600. The movement is tending to 1.33000-1.33200. When tracking the position, we recommend using a trailing stop. Confirmations and entry points to the market should be looked for on the lower timeframes.

by JustForex, 2017.10.26

We recommend you to have a look at the actual figures of technical analysis.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.