GBPUSD at pivot level and support.

2016年9月23日

GBPUSD has reached a mid-pivot level that is also at range support. The bottom resistance level is actually at S1 however there is no denying the mashup of support levels for us to keep a closer eye at this level. Slower stoch is showing a rise in price and faster stoch is still showing price can go lower to the S1 level before reversing. I am on the buy side on this pair as the range is still intact. I will be waiting till after the weekend before entering if price is still holding. Id expect S1 to still be in play so stops should be below. If that is the case, be careful of the algos as they know that is where stops are. Give yourself room to avoid the volatility spike they can cause. .